A recently released report from the Organization for Economic Cooperation and Development (OECD) indicates that Belgium’s economic growth will strengthen slowly. Experts believe that foreign investments will be aided by the favorable fiscal conditions and this will be one of the key elements that will help the country regain its economic strength and investor confidence. If you are a foreign investor looking to open a company in Belgium, our experts can help you.
Growth in private investments
Analysts expect that private investments in in Belgium
will be supported by the country’s favorable financial conditions and exports will also grow, as a result of stronger overall export growth and demand in Europe. These factors should be enough to boost employment in Belgium
and help lower the unemployment rate
Other observations made by the OECD
target the country’s plans to reduce greenhouse gas emissions but there is a need for further investments in this field in order for the country to achieve the desired results. Belgium plans to phase-out nuclear power by 2025 and substantial investments in energy generation solutions
will be needed.
The fiscal consolidation plan
The Belgian government has been implementing a fiscal consolidation plan through temporary wage restraining measures and a tax shift from labor to consumption. These steps will need to be strengthened by other measures and changes in other to produce a significant change in domestic productivity. Training measures for certain categories of minorities or vulnerable groups, especially immigrants, could be helpful for the overall growth recorded in the country.
Belgium has managed to increase its business sentiment and consumer confidence in late 2015 and the conditions for investment growth remain favorable.