After the recent elections, concerns about the government deficit were raised by the Federal Planning Bureau. They warned that without a change in policy, it will significantly increase in the coming years. The Planning Bureau’s forecast is slightly less pessimistic than the National Bank, which predicted deficits of 4.8 percent in 2024, 5.3 percent in 2025 and 5.5 percent in 2026.
The Belgian economy is expected to continue growing steadily over the next few years, with GDP growth projected to reach 1.4 percent in 2024 and remain consistent until 2029. Despite this positive outlook, inflation is anticipated to average around 3.1 percent this year but is expected to fall below the target of 2 percent by next year.
However, job creation in Belgium may be limited this year with an increase of only 27,000 people compared to last year’s increase of 18,000 people. On a brighter note, it is forecasted that job creation will rise to an average of around 43,000 people per year from 2025 onwards. The growth in employment is primarily expected to be in the companies sector and the employment rate is projected to increase from around
