Belgium: 2016 Article IV Consultation--Press Release; Staff Report

March 7, 2016

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Format: Chicago

Belgium: 2016 Article IV Consultation--Press Release; Staff Report, (USA: International Monetary Fund, 2016) accessed November 28, 2024

Summary

This paper discusses economic development and policies of Belgium. The new government has taken important steps to support job creation and address the cost of aging—notably through wage moderation, pension reform, and a tax shift. But growth prospects remain mediocre, public debt very high, and the labor market severely fragmented. The central task is to achieve a lasting reduction in public debt while nurturing the recovery and social cohesion. The government’s goal of achieving structural fiscal balance by 2018 is laudable but ambitious—with almost two percent of GDP of measures yet to be identified. Tapping Belgium’s full labor market potential requires a comprehensive and inclusive jobs strategy.

Subject: Employment, Expenditure, Labor, Labor markets, Public debt, Wages

Keywords: CR, Employment, Global, Government, ISCR, Labor market fragmentation, Labor markets, Labor tax wedge, Money market rate, Reform, Reform progress, Terrorist financing risk, Wages

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/077
Stock No:

1BELEA2016001
ISBN:

9781513547480
ISSN:

1934-7685

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