Belgium ranked 16th in global ‘economic growth potential’ report
Monday, 15 July 2019
Belgium remains in 16th place for economic growth potential, according to KPMG advisory group.
In the recent ‘Growth Promise Indicator’ report, KMPG measured the growth potential of 180 countries on the basis of five indicators: Human capital, infrastructure quality, macroeconomic stability, institutional strength and openness to catch-up.
Belgium scores 7.6 out of 10, slightly better than last year’s.
This is the fifth consecutive year that Belgium is in the top 20 of the rankings. “A fantastic placement, but there is room for improvement,” Koen Maerevoet, Head of KPMG Belgium said.
Average to poor scores for ‘infrastructure’ and ‘macroeconomic stability’ pulled the overall results down.
Concerns are mainly related to road and rail infrastructure and the high level of public debt.
“If we want to maintain our position on the world stage, we must continue to focus on the quality of our infrastructure, our education and a future-oriented approach to our national debt,” Maerevoet explained.
Belgium receives good to very good results for its ‘openness and willingness to reform’, the country’s ‘human capital’ and ‘institutional strength’.
Switzerland is again at the top of this ranking, followed by the Netherlands and Singapore. In the top 10, KPMG ranks includes Denmark, Luxembourg, Finland, Norway, Sweden, New Zealand and Canada. Germany and the UK follow just behind, and the United States is at 20th place.