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Coronavirus: Belgium’s GDP to fall by 6.9%, expects IMF

In 2019, Belgian growth had reached +1.4%. Credit: Belga

The International Monetary Fund (IMF) expects Belgium’s gross domestic product (GDP) to fall by 6.9% in 2020, due to the new coronavirus (Covid-19) crisis.

In 2021, the Belgian economy should return to growth and rebound by 4.6%, the IMF said in its latest economic outlook published on Tuesday.

In 2019, Belgian growth had reached +1.4%.

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The IMF also forecasts a very low level of inflation in 2020 in Belgium (+0.3%), with price rises expected to accelerate slightly in 2021 (+1.1%).

The unemployment rate, set at 5.4% in 2019, is expected to rise by almost 2 points this year (7.3%), before declining somewhat next year (6.8%), according to the IMF.

The Brussels Times