WORLD MAP
In Bruges THE KINGDOM OF BELGIUM HAS PUT THE SWORD TO BUZZWORDS AND HYPERBOLE. WHEN IT TALKS OF DELIVERING A GREEN AND DIGITAL TRANSITION, THERE IS EVIDENCE OF MEANINGFUL INDUSTRIAL CHANGE INCLUDING THE ESTABLISHMENT OF A WORLD-LEADING HYDROGEN PRODUCTION PARTNERSHIP.
Traffic in Antwerp.
Belgium’s Federal Planning Bureau released
to increase by 73,000 people over the period
investment will gain once uncertainties about
a statement in September 2021 forecasting
2021-2022.
Covid-19 are reduced.
a return to pre-coronavirus levels for the
Meanwhile, an economic outlook via the
Interestingly, OECD claim policies should
economy by the year’s end. Over the course
Organisation for Economic Co-operation and
support resource reallocation. Policy support
of 2022, quarterly Gross Domestic Product
Development (OECD) indicated the country’s
in this instance should be removed carefully
(GDP) growth should gradually normalise,
recovery plan is focused on a green and digital
in line with the evolution of the pandemic
leading to a less pronounced growth of 3.0
transition.
and the recovery. Policy support, according
per cent, with exports and especially private
Production in manufacturing has already
to OECD, should strictly be targeted to viable
consumption as the mainstays.
surpassed pre-crisis levels. Business sentiment
jobs and firms. Also, the planned insolvency
Consumer price inflation, according to the
has improved, too, mainly driven by a rise in
reform should be implemented as scheduled
Bureau, has been much higher than expected,
demand expectations. Uncertainty, however,
to reduce obstacles hampering the successful
mainly due to unexpectedly high prices for
is said to be holding back a proportionate
restructure of viable firms and the smooth exit
natural gas and electricity. There is optimism
increase in business investment.
of non-viable firms. While there have been job
of inflation cooling and energy prices easing.
A strong economic rebound is expected as
losses, there are new opportunities emerging
On an annual basis, inflation would be 1.9
restrictive measures are removed and the
in the information and communications
per cent in 2021 and 2.1 per cent in 2022,
population is increasingly vaccinated. Private
sector. These can be facilitated through
while the health index would increase by 1.6
consumption will gain momentum and
up-skill or re-skill programs mandatory for
per cent and 2.1 per cent respectively. The
accumulated savings will remain in excess of
those on temporary layoff schemes. Finally,
previous pivot index (109.34) was exceeded
pre-pandemic levels. Turnover in the labour
the authorities, according to OECD, should
in August 2021 and the current pivot index
market, though, is expected to rise due to the
use Next Generation EU funds swiftly and
(111.53) was to be reached in June 2022.
winding down of most policy measures. With
effectively to address potential growth which
Employment across Belgium is also expected
improved global economic prospects, business
is otherwise projected to slow markedly.
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Trailer Magazine FEBRUARY 22
