Belgium’s Economic Indicators for 2023

Real GDP Growth:

  • Belgium’s real GDP is expected to grow by 2.7% in 2023, following a 4.1% growth in 2022 and a 5.5% growth in 2021. This growth is expected to continue the positive trend seen in the previous years.

Consumer Prices (HICP):

  • The Harmonized Index of Consumer Prices (HICP) for Belgium is expected to increase by 1.8% in 2023. This indicates a moderate level of inflation.

Labor Market:

  • Total employment is projected to increase steadily in 2023, with unemployment rates remaining relatively stable.

General Government Balance:

  • Belgium is expected to achieve a positive primary balance in 2023, indicating that its government revenue is expected to exceed its non-interest expenditure. This suggests prudent fiscal management.

Current Account:

  • Belgium’s current account is expected to remain stable in 2023, in line with previous years.

Business and Consumer Sentiment:

  • Business sentiment remains relatively positive, with expectations for the general economic situation and production capacity utilization showing steady growth.
  • Consumer confidence in Belgium is also improving gradually, indicating optimism about the economic situation.

These economic indicators suggest that Belgium’s economy is on a positive trajectory in 2023, with steady GDP growth, moderate inflation, and improving sentiment among both businesses and consumers. This is indicative of a stable and growing economy.