{
  "title": "Belgium: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belgium",
  "publication": "IMF Staff Country Reports, March 11, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/03/08/belgium-2019-article-iv-consultation-press-release-staff-report-and-statement-by-the-46657",
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  "summary": "This Article IV Consultation highlights that Belgium has experienced nine consecutive years of economic growth. Per capita GDP has surpassed pre-crisis levels, and unemployment is at its lowest level in four decades.",
  "sections": [
    {
      "heading": "Main findings",
      "content": "- Belgium has experienced nine consecutive years of economic growth.\n- Per capita GDP has surpassed pre-crisis levels.\n- Unemployment is at its lowest level in four decades.\n- The financial sector has undergone structural changes and increased its resiliency to shocks.\n- Authorities implemented important reforms in recent years that have contributed to job creation, improved competitiveness, and lowered the deficit.\n- The reform agenda is unfinished and the new government should take advantage of still favorable economic conditions to press ahead with further reforms to strengthen resilience and growth potential."
    },
    {
      "heading": "Policy recommendations and priorities",
      "content": "- Priority: rebuild fiscal buffers by gradually moving toward a balanced budget in the medium term.\n- Support fiscal consolidation with efficiency-oriented spending reforms.\n- Boost productivity growth by:\n  - supporting entrepreneurship,\n  - increasing investment in infrastructure,\n  - strengthening competition in services,\n  - fostering innovation."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Employment, Financial institutions, Fiscal policy, Fiscal stance, Labor, Labor markets, Loans, Public debt\n- Keywords: authority, Belgium, CR, economy's resilience, Employment, employment growth, Europe, Fiscal stance, Global, IMF staff projection, ISCR, Labor markets, Loans, productivity differential, productivity gain, real GDP, reform momentum\n\n---\n\n Content in this bundle\n\n- 1belea2019001\n  - 1belea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1belea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 11, 2019",
    "Series: IMF Staff Country Reports",
    "Belgium has experienced nine consecutive years of economic growth.",
    "Per capita GDP has surpassed pre-crisis levels.",
    "Unemployment is at its lowest level in four decades.",
    "The financial sector has undergone structural changes and increased its resiliency to shocks.",
    "Authorities implemented important reforms in recent years that have contributed to job creation, improved competitiveness, and lowered the deficit.",
    "The reform agenda is unfinished and the new government should take advantage of still favorable economic conditions to press ahead with further reforms to strengthen resilience and growth potential.",
    "Priority: rebuild fiscal buffers by gradually moving toward a balanced budget in the medium term.",
    "Support fiscal consolidation with efficiency-oriented spending reforms.",
    "Boost productivity growth by:",
    "Subjects: Employment, Financial institutions, Fiscal policy, Fiscal stance, Labor, Labor markets, Loans, Public debt",
    "Keywords: authority, Belgium, CR, economy's resilience, Employment, employment growth, Europe, Fiscal stance, Global, IMF staff projection, ISCR, Labor markets, Loans, productivity differential, productivity gain, real GDP, reform momentum",
    "**1belea2019001**"
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