## Belgium: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belgium

_IMF Staff Country Reports, March 11, 2019_

## Source details

**Canonical URL:** [Belgium: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belgium](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)

## Other formats

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## Bibliographic details
- Published: March 11, 2019
- Series: IMF Staff Country Reports

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### Main findings
- 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.

### Policy recommendations and priorities
- 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:
  - supporting entrepreneurship,
  - increasing investment in infrastructure,
  - strengthening competition in services,
  - fostering innovation.

### Subjects and keywords
- 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

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- **1belea2019001**
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_Source: 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_