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OECD Economic Surveys: Belgium 2011 Published on July 2011

Report Summary The 2011 edition of OECD's periodic review of the Belgian economy. This edition includes chapters covering public finances, the labour market, and green growth.

Table of Content

Executive summary Assessment and recommendations Chapter 1. Bringing public finances to a sustainable path -The recovery is gathering pace, but will be insufficient to restore fiscal sustainability -High levels of public debt boost the need for fiscal consolidation -Reform of social security is the key to controlling ageing-related cost increases -Fiscal federalism reform should facilitate consolidation -An internal stability pact would improve the burden-sharing of fiscal targets -Annex 1.A1. Progress in structural reform -Annex 1.A2. Scenarios for public finances -Annex 1.A3. The Belgian social security system Chapter 2. Enhance the inclusiveness of the labour market -The labour market performed relatively well during the crisis, but structural problems remain -The anti-crisis labour measures should be scaled back as the economy recovers -The government should focus on making the labour market more inclusive -There are still large underutilised sources of labour -Annex 2.A1. The seasonal pattern in the reduced working time programme Chapter 3. Greener growth in the Belgian federation -The greenhouse gas emission targets are becoming increasingly challenging -The high energy intensity of the economy leads to a large amount of emissions -Polluters must face the marginal cost of damages to ensure cost-efficient abatement -Improvements in the area of water quality are visible, but suffer from a large backlog -Environmental tools and policies should be co-ordinated and realigned -Bibliography -Annex 3.A1. Price elasticities of fuel demand Glossary

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OECD Economic Surveys: Belgium 2011 (From Issuu)

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OECD Economic Surveys: Belgium 2011