2017 forecast as “the moment of truth” for Belgian economy
Thursday, 05 January 2017
After a disruptive 2016, the momentum for booming economic growth is expected to continue and even have an increased rate of growth of 1.7% of GDP in 2017. The Federation of Businesses in Belgium (FEB) states this in its most recent cyclical report. However, reforms should be continued immediately, warns the employers’ organisation.
“2017 will be the moment of truth. Businesses are creating employment, the investment climate is positive but there are also factors, both external and internal, which can threaten growth,” Pieter Timmermans, the Chief Executive of FEB, said during a press conference.
The FEB “has launched an appeal to governments,” as much at federal as regional level, for reform of corporation tax without delay, for an “energy pact” and for businesses to take responsibility for Belgium’s transport problem, which will thus allow businesses to “create more jobs”.
Mr Timmermans also considered that businesses “have kept their word” by creating jobs following the decrease in federal government taxes. The FEB believes that this trend will continue in 2017.
The reduction in the wage handicap, which was reduced from 15 to 10% according to the FEB, also supports exports and allowing Belgium to regain its global market share.