Belgium’s economy achieved growth of 1.1 per cent in 2014 – inline with what had been expected last summer – and is expected to sustain this rate this year.
While modest, this growth performance looks more impressive given the challenges eurozone countries face.
View from the ground
Robby Vanuxem, Managing Director, Hays Belgium
Belgium’s economy achieved growth between 0.9 and 1.1 per cent in 2014, which was forecast last year. This growth rate is impressive when you take into account the economic challenges that Europe continues to face. Moreover, growth between 1.1 and 1.3 per cent is expected to continue for 2015/2016, which is very positive, however the ongoing brain drain and high demand for scientific and technical profiles remains an issue for businesses. Recently the Belgian Government announced reforms, the goal of which is job creation, and this will include decreasing employer’s social security contributions and encourage R&D investment.
The following seven indicators are given equal weight when calculating the overall Index score for each country. Each indicator measures how much pressure different factors are exerting on the local labour market. Higher scores mean that a country is experiencing more pressure than has historically been the case. Lower scores mean that a country is experiencing less pressure than has historically been the case.