Les défis de la compétitivité en Belgique

This article provides an overview of the competitiveness of Belgium and is based on a joint memorandum from the National Bank of Belgium, the Federal Planning Bureau and the Secretariat of the Central Economic Council on this topic. This memorandum gives a nuanced picture of the competitiveness of Belgium. On the one hand, the Belgian economy is well situated in Europe, with a high GDP per capita and a positive current account balance. This position is under pressure, however, as can be gauged from the decline in the trade balance surplus and the stronger ULC growth than the average in the three neighbouring countries. Furthermore, the increased global competition for the limited quantity of energy and raw materials, and the ageing of the population, will probably exert even more pressure on our prosperity in the coming years. If the Belgian economy wants to maintain its social model, it will have to find a solution to these radical developments.