Belgium: 2015 Article IV Consultation—Staff Report; and Press Release
IMF Staff Country Reports, March 12, 2015
Source details
- Canonical URL
- Belgium: 2015 Article IV Consultation—Staff Report; and Press Release
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Bibliographic details
- Published: March 12, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498355100.002
Macroeconomic assessment and outlook
- Belgian economy has shown considerable resilience but the outlook is weighed down by weak demand in Europe.
- Output is still well below potential.
- Growth prospects are described as "subdued growth prospect", and with subdued growth prospects, job creation remains insufficient.
- Fiscal adjustment is expected to resume after a pause in 2014.
- The pace of adjustment targeted by the authorities for 2015–16 is appropriate given the level of debt and related risks.
Drivers of resilience
- Healthy private balance sheets.
- Integration with Germany.
- Employment support schemes that have helped sustain employment and economic activity.
Labor market and social policy implications
- Employment support schemes have sustained employment and activity, but job creation remains insufficient given output below potential.
- Relevant subject areas listed: Employment; Labor; Labor taxes; Unemployment benefits; Income.
Fiscal policy and public finances
- Fiscal consolidation: fiscal adjustment to resume after a pause in 2014.
- The authorities target a pace of adjustment for 2015–16 judged appropriate in light of debt and related risks.
- Relevant subject areas listed: Expenditure; Fiscal consolidation; Taxes; Budget; Government.
Financial sector and AML/CFT
- Relevant subject areas: Banking; Anti-money laundering and combating the financing of terrorism (AML/CFT); CFT framework; Assessment methodology.
Publication metadata and identifiers
- Pages: 60
- Volume: 2015
- Issue: 070
- Series: Country Report No. 2015/070
- DOI: https://doi.org/10.5089/9781498355100.002
- Stock No: 1BELEA2015001
- ISBN: 9781498355100
- ISSN: 1934-7685
International Monetary Fund. European Dept. "Belgium: 2015 Article IV Consultation—Staff Report; and Press Release", IMF Staff Country Reports 2015, 070 (2015), accessed 9/11/2026, https://doi.org/10.5089/9781498355100.002