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.
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|Size: ||1.7 MB|
|Publisher: ||INTERNATIONAL MONETARY FUND|
|Date published: || 2016|
|ISBN: ||9781513549613 (DRM-EPUB)|
|Read Aloud: ||not allowed|
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