| Description |
1 online resource (41 pages) |
| Series |
IMF country report ; no. 11/82 |
|
IMF country report ; no. 11/82.
|
| Contents |
History of fiscal consolidation in Belgium : lessons from the past / prepared by Irina Yakadina -- Belgium's public debt : profile, dynamics and vulnerabilities / prepared by Yingbin Xiao -- Domestic and international linkages of the Belgian banking sector / prepared by Kevin Cheng and Sumit Aneja -- Belgium's export performance : how did it play out during the recession and recovery? / prepared by Kevin C. Cheng |
| Summary |
1. Belgium's impressive past fiscal consolidation is an example for other countries that need to bring down their public debt and also provides insights on how best to address its own current fiscal challenges. After Belgium's public debt-to-GDP reached a peak of about 135 percent in 1993, it was steadily reduced to about 84 percent by 2007. On the heels of the recent financial crisis and recession, the public debt ratio increased again to about 97 percent in 2010. In view of mounting aging costs and modest growth prospects, resuming fiscal consolidation efforts is needed to avoid hurting long-term growth and prevent unsustainable debt dynamics from setting in. The design of the forthcoming fiscal adjustment will be crucial to bolster its durability. In examining Belgium's historical experience, this note intends to identify the factors that have been helpful in achieving the large fiscal adjustment as well as those that hampered fiscal consolidation in recent years |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from PDF title page (IMF Web site, viewed July 5, 2011) |
| Subject |
Fiscal policy -- Belgium
|
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Debts, Public -- Belgium
|
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Banks and banking -- Belgium
|
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Exports -- Belgium
|
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Banks and banking
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Debts, Public
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Exports
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Fiscal policy
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Belgium
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| Form |
Electronic book
|
| Author |
Aneja, Sumit.
|
|
International Monetary Fund.
|
| ISBN |
1283554801 |
|
9781283554800 |
|
9781462327355 |
|
1462327354 |
|
