National Bank scales down growth forecasts for next few years

National Bank scales down growth forecasts for next few years

The Gross Domestic Product (GDP) will gradually weaken in Belgium from 1.5% in 2018 to 1.2% in 2021, Vice Governor of the National Bank of Belgium (NBB), Pierre Wunsch, said Monday on the occasion of the presentation of the institution’s economic forecasts. In parallel, job creation too will experience a slowdown, but unemployment will remain at a historically low level.

While still foreseeing a growth rate of 1.5% in 2019, as for this year, the NBB now expects a GDP growth by 1.4% in 2019, 1.3% in 2020, and finally 1.2% in 2021, the last year for which projections have been published. The bank is not as optimistic as the other international institutions that have already published their estimates.

The Brussels Times


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