Belgium; 2003 Article IV Consultationâ€”Staff Report; and Public Information Notice on the Executive Board Discussion

Long-term issues continue to dominate the economic policy agenda. The economy is expected to grow at a moderate pace. The challenge from aging is becoming more pressing, calling for sustained fiscal consolidation. The elaboration of a medium-term fiscal framework based on expenditure growth ceilings will help underpin the achievement of budget objectives. The focus on job creation has triggered helpful initiatives but further, comprehensive labor market reform is needed to raise employment rates. An acceleration of product market reform will provide an impetus to growth.

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Year of publication:	2004-02-27
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Article IV consultations \| Economic conditions \| public debt \| health care \| pension \| retirement \| early retirement \| primary expenditure \| fiscal consolidation \| fiscal sustainability \| pension fund \| pensions \| expenditure growth \| tax cuts \| fiscal policy \| tax wedge \| tax wedge on labor \| fiscal balance \| budget surplus \| tax incentives \| fiscal adjustment \| social security spending \| pensioners \| retirements \| wage growth \| labor force \| interest expenditure \| fiscal discipline \| fiscal scenarios \| fiscal position \| fiscal effort \| public pension \| fiscal developments \| pension reform \| fiscal stance \| pension spending \| fiscal surpluses \| private saving \| public spending \| tax burden \| bond rate \| national accounts \| fiscal savings \| tax changes \| pension systems \| second pension \| budget constraint \| budget balance \| retirement decision \| contingent liabilities \| capital expenditure \| high tax burden \| fiscal surplus \| tax cut \| tax reduction \| flat-rate pension \| pension benefits \| fiscal objectives \| early retirement incentives \| old-age pensioners \| public finances \| tax revenue \| dependency ratio \| supervisory capacity \| taxation \| replacement rate \| fiscal costs \| fiscal pressures \| retirement incentives \| budgetary implications \| government ? ? ? ? ? ? ? ? ? revenue \| life expectancy \| fiscal transparency \| tax collection \| public pension systems \| spending control \| pillar pensions \| pension pillar \| fiscal contraction \| fiscal framework \| retirement programs

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 04/47 4 pages long
Source:	RePEc - Research Papers in Economics

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