## Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion

_IMF Staff Country Reports, March 1, 2006_

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**Canonical URL:** [Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion](https://www.imf.org/en/publications/cr/issues/2016/12/31/staff-report-for-the-2005-article-iv-consultation-18955)

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## Bibliographic details
- Published: March 1, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451803235.002

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### Growth outlook and recent developments
- Growth picked up following weakness in early 2005.
- Weakness in early 2005 mainly reflected a negative contribution from the external sector and weak household consumption owing to high energy prices.
- The authorities and the IMF staff project GDP growth to strengthen into 2006 to somewhat more than 2 percent.

### Demand composition and sectoral outlook
- Private consumption
  - Projected to pick up in response to tax cuts.
- External sector
  - Provided a negative contribution to growth in early 2005.
  - Improvement in demand from trading partners is a driver of the projected strengthening into 2006.
- Residential construction
  - Likely to remain resilient.
  - Housing price growth is likely to slow.

### Key themes and policy-relevant topics covered
- Expenditure
- Labor
- Public debt
- Taxes
- Related keywords noted in the source: budget surplus, CR, GDP, Global, house price growth, housing price development, IMF staff projection, ISCR, Labor costs, labor market rigidity, rate, Social security contributions, staff project GDP growth, tax, Wages

*Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/staff-report-for-the-2005-article-iv-consultation-18955_