OECD Economic Surveys: Belgium 2024

Name: OECD Economic Surveys: Belgium 2024
Brand: OECD
SKU: 9789264523975
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ISBN13: 9789264523975
Binding: Paperback
Subject: N/A
Publisher: OECD
Publisher Imprint: OECD
Publication Date: November 8, 2024
Pages: 150
Original Price: GBP 36.4
Language: English
Edition: N/A
Item Weight: 354 grams
BISAC Subject(s): Public Policy / Economic Policy

About The Book

Belgium's economy has been relatively resilient to recent shocks and is expected to continue to grow steadily. Public finances have deteriorated though. In absence of fiscal consolidation, the debt-to-GDP ratio is projected to rise fast. Cutting ineffective public spending and reforming the budgetary framework to increase accountability across governments would help ensure public finances are on a sustainable path. Reforms to taxes and benefits could foster labour market activation and expand the tax base. Strengthening prevention and return-to-work programmes could contribute to tackling the high and increasing take up of disability benefits and better support employment of people with reduced work capacity. A coordinated strategy to reduce administrative costs and facilitate small firms' access to training could increase business dynamism and productivity. Targeted support for female entrepreneurs could also unlock additional potential of the SME sector. Achieving the green transition requires setting up binding targets and improving coordination of climate policy across federal and regional governments. Easing procedures and improved financing schemes would help deploy renewable energy production. Transparency in future environmental standards with adequate and well-targeted financial incentives would sustain household investment in energy efficiency and electrification, particularly in the transportation and building renovation sectors.

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