Share article:
Share article:

Coronavirus: Belgian companies predict 37% turnover loss

Credit: Belga

Belgian companies estimate a loss of turnover of 37% due to the current economic crisis surrounding the new coronavirus (Covid-19).

This estimation is based on a survey of 6,906 Belgian enterprises by the Economic Risk Management Group (ERMG), a new task force set up by Prime Minister Sophie Wilmès to manage the economic and macroeconomic risks as the country takes measures to fight the coronavirus.

4 out of 10 companies have seen their turnover drop by more than 75%, according to the ERMG, with hospitality (-83%), the arts, entertainment and recreation sector (-92%) and commerce (-59%) being the most affected.

Related Articles

 

In addition, up to 50% of the businesses surveyed reported problems with cash flow. The ERMG also said that one in two businesses surveyed has resorted to temporary unemployment.

The survey follows the news that Belgium’s National Security Council will meet on 15 March to discuss whether or not the lockdown measures, and therefore the economic consequences, will continue past the current deadline of 19 April.

Jason Spinks
The Brussels Times

Latest news

Aggression against railway staff more than doubled since 2020
In the first three quarters of 2021, the number of reports of aggression against national railway company SNCB's staff has more than doubled compared ...
Intervention hotline 1722 activated following bad weather warnings
Following bad weather warnings from Belgium's Royal Meteorological Institute of Belgium (RMI), the Federal Public Service (FPS) Home Affairs has ...
Thousands march in Brussels to raise awareness of violence against women
More than 3,000 people took to the streets of Brussels on Sunday afternoon for a national march to raise awareness of violence against women in ...
Efficacy of vaccines against new variant known in a few weeks, virologist says
The efficacy of the current coronavirus vaccines against the new Omicron variant will be clear in one to two weeks, Belgian virologist Marc Van Ranst ...
Scientists could have communicated better during pandemic, survey shows
The majority of Flemish people continue to trust scientists, however, only half of them feel scientists communicated understandably during the ...
Closing borders and new travel restrictions: Countries react to Omicron variant
As more cases of the new Omicron variant of the coronavirus are being reported across the world, more and more countries are imposing tougher travel ...
Several rush hour train services to be scrapped from Monday
Up to ten peak time trains to and from Brussels will be temporarily cancelled starting from Monday, Belgian railway company SNCB announced this ...
Europe’s largest vintage clothes store is in Ghent this weekend
Europe's largest pop-up store for second-hand clothes is once again setting up shop in Ghent on Sunday, offering more than five tonnes of vintage ...
Animal welfare in EU’s pig meat sector: What’s wrong?
EU has put into place legislation to ensure that animal welfare conditions are respected in its agricultural policy but the breaches of its ...
‘Not feasible’: Doctors refuse to follow new testing strategy
Doctors have warned they will not follow the government's adapted testing strategy which would see vaccinated people who were in close contact with a ...
Flanders introduces ‘invisible’ speed cameras
New digital speed cameras that are essentially invisible to the road user are being introduced on various roads and motorways in Flanders, Flemish ...
Warnings issued for slippery roads across Belgium
Drivers have been asked to watch out for slippery roads from Saturday afternoon until Sunday evening, as snow and cold temperatures are expected ...