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Belgium spent USD 2.6 billion on official development assistance (ODA) in 2009, which amounted to 0.55% of its gross national income (GNI).
Belgium’s development co-operation has gained new momentum over the last two years, driven by international commitments and a process of self-reflection
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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
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The Belgian government delegates some of its tasks to semi-public bodies in what is known as functional devolution. There are 15 public social security institutions in the sectors of employment and unemployment, pensions, family allowances, health and disability insurance.
Securing fiscal sustainability requires a reform of the fiscal federalism system. The current transfer system does not align spending and taxing responsibilities and the organisation of the federation is not promoting public spending efficiency.
Competition policies are being strengthened which will improve consumer welfare and growth. However, competition in retail is hindered by unusually extensive sector regulation while the liberalisation of network sectors has been less successful than in other OECD countries.
The Belgian economy has entered into a deep recession. The government responded with prompt interventions in the financial markets and fiscal stimulus, but needs to follow up with long-term structural reforms.
Public finances are shifting further away from fiscal sustainability, emphasising the need for the reform of the fiscal policy making and strategies to deal with the costs of ageing.
The Belgian economy is in a deep recession. Nevertheless, the government should not forego structural reforms in areas such as labour policy, fiscal policy, fiscal federalism, taxation and competition. Such reforms are particularly important to meet the challenge of securing fiscal sustainabilit
The Belgian economy is in a deep recession. Nevertheless, the government should not forego structural reforms in areas such as labour policy, fiscal policy, fiscal federalism, taxation and competition. Such reforms are particularly important to meet the challenge of securing fiscal sustainability.