OECD Economic Surveys: Belgium 2020
Belgium performs well in many economic and well-being dimensions, but risks are building up. Maintaining the reform momentum will boost the resilience of the Belgian economy. Rebuilding fiscal buffers should remain a priority to cope with population ageing. Strong mortgage credit growth and easing of lending standards require adequate prudential measures. The employment rate remains low and changes in the nature of work can exacerbate existing gaps according to socio-economic status or regions. Rising skill shortages in some sectors signal a need to better align skills with labour market needs. Better work incentives could be achieved through reforming both unemployment and in-work benefits. Boosting medium-term growth requires higher productivity growth through faster technological diffusion and ensuring that firms are more exposed to competition.
SPECIAL FEATURE: ADDRESSING LABOUR MARKET CHALLENGES
Also available in: French
Basic Statistic of Belgium, 2018
(Numbers in parentheses refer to the OECD average)*
This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Belgium were reviewed by the Committee on 16 October 2019. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 29 October 2019. The Secretariat’s draft report was prepared for the Committee by Müge Adalet McGowan, David Law and Patrizio Sicari under the supervision of Pierre Beynet. The Labour Market Chapter also benefitted from contributions by Alexander Hijzen, Andrea Salvatori and Stefan Thewissen. Editorial support was provided by Sylvie Ricordeau.The previous Survey of Belgium was issued in June 2017.
Also available in: French
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