Structural improvement of the budget: Belgium sets the tone in the eurozone

Minister of Finance Johan Van Overtveldt (N-VA) responds positively to the most recent economic prospects presented by the European Commission. “The prospects for Belgium remain stable, unemployment is decreasing, and job creation in the private sector is gaining interest,” summarises Van Overtveldt. “This is proof that this government’s project to increase Competitiveness The extent to which companies in one country can compete with similar companies in another country. A law came into force in Belgium in 1996 to monitor competitiveness. This stipulates that Belgian salaries may not evolve faster than the average of those in the three neighbouring countries. The Central Economic Council (CEC) performs an annual measurement to see if the objectives have been obtained. competitiveness and create sustainable jobs works.”

For 2015, the European Commission foresees a structural improvement with 0.5 percent of the GDP The gross domestic product (GDP) is the total monetary value of all goods and services produced within a country, both by companies and the government. This term is usually used as a benchmark for a country’s prosperity. This is why the N-VA closely follows the evolution of the Belgian GDP. GDP . This puts Belgium in first place within the eurozone. “The figures also show that private consumption has also increased considerably compared to the previous years,” Van Overtveldt remarks. “And the actual disposable income is even increasing. After all, measures that improve competitiveness, such as a temporary stop in indexation and wage moderation are compensated by cost reductions.”

The European Commission also sees that the investment climate in Belgium is evolving in a positive way. Export is also vastly improving thanks to improved competitiveness. And the trade balance is finally on the up again.