Economic Survey of Belgium

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The OECD has just released the Economic Survey of Belgium 2011. According to the report, Belgium has emerged from the global financial crisis faster than the euro area as a whole, but high public debt and the need to anticipate the cost of its ageing population require urgent fiscal consolidation.

The country’s debt-to-GDP ratio increased by a total of 12.5 percentage points to 97 percent of GDP, derailing plans to pre-fund future financing needs.

The analysts recommend reinforcing economic dynamism by improving access to the labor market, particularly for young people and immigrants. At the same time, economic growth needs to be greener, they say.

The full text is available to the IESE Community.