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UNEMPLOYMENT / DEC. 27, 2012
version 18, draft 18

Economic Projections for Belgium

belgium National Bank

 

In June, the National Bank of Belgium (NBB) presented its economic projections for Belgium for 2011 and 2012. According to the projections, the rise in GDP will outstrip the increase projected for the euro zone (specifically in 2011). Inflation will also rise.

According to an economic report from the National Bank of Belgium, the growth in economic activity in 2011 and 2012 in Belgium should continue. Growth was 2.1% in 2010 and should rise to 2.6% in 2011, falling back down to 2.2% in 2012. The rise in consumer prices should increase from 2.3% in 2010 to 3.4% in 2011, settling back to 2.2% in 2012

The NBB says that further growth in activity is supported by consolidation of the labour market:

  • Job creation will be slightly higher than in 2010, rising from 0.8% to 0.9%. 

  • In net terms, around 77,000 extra jobs will be created between the end of 2010 and the end of 2012, following an increase of 54,200 jobs in 2010. 

  • The fall in unemployment begun in early 2010 will continue, with unemployment dropping from an average of 8.4% in 2010 to 7.3% in 2012.

 

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