European Commission expects Belgium’s debt to drop below 100%-of-GDP markThursday, 08 November 2018 16:52
For its part, the budget deficit is showing a negative trend. The Commission puts it at -1.1% in 2019, whereas it had projected it at -1.3% in Spring. Its projection for 2020 is -1.3%. In this regard, the Commission sees a link between this progression and Phase II of the tax shift, implemented this year, and Phase III, to be applied in 2019.
The structural deficit should follow the same trend – 1.3% in 2019 and -1.7% in 2020. The Federal Government had set 2020 as the year of a return to a balanced budget, but the Commission bases its projections on an unchanged policy.
The Commission projects that economic growth will slow down to 1.5% in 2018 and 2019, and 1.4% in 2020, with increasing domestic demand offset by decreasing world trade. This is comparable to the trend observed in the euro zone, where growth is slowing after reaching a 10-year peak in 2017.
The Brussels Times
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