La croissance économique devrait être modérée, autour de 1 % en 2020-21. Des facteurs contraires sur le plan extérieur pèseront sur les exportations et l’investissement des entreprises, en dépit de conditions financières accommodantes. La consommation privée gagnera en résilience à la faveur des réductions d’impôts et de la revalorisation des salaires, qui feront progresser le revenu disponible des ménages.
Easing administrative burdens and simplifying entry regulation in professional services, retail and network industries and streamlining the insolvency regime would boost competition and productivity growth. Further reducing the tax wedge on labour, particularly for the low-skilled, would encourage employment.
A sound macroeconomic policy framework, high quality education and a combination of market-based policies and a redistributive welfare state have boosted GDP per capita to well above the OECD average. Although growth weakened since the global financial crisis, Belgium ranks among the ten most competitive countries in Europe. The financial sector has recovered from the severe shock which hit the banking system in the aftermath of the financial crisis, aided by government bailouts and new prudential measures. Belgians enjoy high well-being in many dimensions, notably worklife balance, health, education and civic engagement. Income inequality after tax and transfers is comparatively low. Belgium has the lowest gender wage gap among the OECD countries.