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.