Consumer confidence is being eroded by the deterioration of the COVID-19 pandemic. The survey does not yet take into account the curfew and closure of bars and restaurants. 

Fons Verplaetse, 1930-2020
Honorary Governor of the National Bank of Belgium

The National Bank of Belgium regrets to announce the death of its Honorary Governor Fons Verplaetse, yesterday evening, following a short illness and complications due to COVID-19. Mr Verplaetse was a leading economist, who made a big contribution to the recovery policy implemented in the 1980s and the efforts to integrate Belgium into the European Monetary Union, through the role he played in the Martens government and later during his mandate as Governor of the NBB.

• Net financial wealth of individuals increased to € 1094.4 billion
• Record private financial investment of €19.1 billion in second quarter of 2020
• Growth of private debt has been gathering speed for the last three years, with the debt ratio up to 61.6 % of GDP at the end of 2019

An early estimate reveals that value added generated in the Belgian ports rose by 4.3 % in 2019, which was reflected in an increase in employment (+1.4 %). This growth was evident in both the maritime and non-maritime clusters.

The exponential spread of COVID-19 in 2020 has brought major economic disruption and has also hit maritime goods transport. Goods transshipment in the Flemish seaports and the inland port of Brussels was down by more than 4% in the first eight months of 2020.

As of today, the National Bank of Belgium will publish each month, together with the partners of the Economic Risk Management Group (ERMG), a complete set of indicators in the form of an economic COVID-19 dashboard. This dashboard is intended for anyone who wishes to closely monitor the impact of COVID-19 on the Belgian and international economies. It maps the situation of companies as well as the financial sector and households. 

Belgian firms estimate that their turnover is still 14 % below normal levels at the moment, a similar percentage to that recorded in the survey conducted at the end of August. This means that the slow and incomplete recovery of turnover seen over the last few months has stalled. As in the previous survey, companies are not expecting any real improvement in 2021.