Belgium: Selected Issues

March 5, 2007

Preview Citation

Format: Chicago

Belgium: Selected Issues, (USA: International Monetary Fund, 2007) accessed November 21, 2024

Summary

This Selected Issues paper focuses on the fiscal challenge for Belgium in coping with population aging, including the sustainability of prevailing fiscal federalism arrangements across all levels of governments. The analysis demonstrates that the current strategy of upfront consolidation is likely to fall short of achieving sustainability. Further reductions in aging-related spending and growth and productivity-enhancing reforms beyond those assumed under the authorities’ strategy appear to be necessary. The paper also assesses whether the wage bargaining framework, a key labor market institution, is conducive to preserving external competitiveness and raising employment rates.

Subject: Aging, Fiscal policy, Fiscal stance, Labor, Labor costs, Population and demographics, Wage adjustments, Wages

Keywords: Adjustment mechanism, Aging, Belgium, Cost, CR, Europe, Fiscal policy recommendation, Fiscal stance, Government, Government entity, Indexation rule, ISCR, Labor costs, Nominal wage, Policy objective, Wage adjustments, Wage norm, Wages, Widening wage gap

Publication Details

Pages:

32
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/088
Stock No:

1BELEA2007001
ISBN:

9781451803266
ISSN:

1934-7685

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