Arab Today, arab today imf belgium needs reforms to fix economy boost growth
Last Updated : GMT 01:27:57
Arab Today, arab today
Arab Today, arab today

IMF: Belgium needs reforms to fix economy, boost growth

Arab Today, arab today

Arab Today, arab today IMF: Belgium needs reforms to fix economy, boost growth

Brussels - AFP

The Belgian economy faces a second year of near zero growth, hampered by a loss of competitive edge and structural problems as the government cuts back spending, the International Monetary Fund said Wednesday. Belgium is likely to eke out growth of 0.2 percent this year and just over 1.0 percent in 2014, the IMF said in a regular review, warning that even a gradual improvement in external conditions might not help much. Belgium has fallen behind neighbours Germany, France and the Netherlands in terms of export performance as its labour costs have grown faster than theirs' and productivity slipped, it said. It said that while the financial sector "has been transformed and downsized in the aftermath of the financial crisis," notably with the winding up of Dexia, vulnerabilities remained. "Combined with the fragile situation of public finances, these vulnerabilities could, in an adverse environment, undermine macroeconomic stability," it said. Accordingly, the government should push ahead with further fiscal reforms before the next general elections, due in 2014. Belgium expects to run a public deficit -- the shortfall of state revenue to spending -- of 2.15 percent of Gross Domestic Product this year, below the EU 3.0 percent ceiling but requiring the government to find savings of some 2.5 billion euros. Reports this week said the deficit target might be eased to 2.4-2.6 percent so as to ease the immediate pain. The accumulated public debt, however, is around 100 percent of GDP, way above the EU limit of 60 percent and on the IMF's danger line for what is sustainable over the longer term. The IMF said that in "view of the significant risks created by the level of public debt," the government should aim to reduce the annual deficit to around 2.0 percent in 2014, so as to help put the debt burden "on a downward path."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today imf belgium needs reforms to fix economy boost growth Arab Today, arab today imf belgium needs reforms to fix economy boost growth

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday