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The business barometer deteriorated for the seventh straight month, albeit at a slightly slower pace. Only the building industry escaped the downturn. The drop in confidence was most noticeable in business-related services.

How sustainable are the finances of the federal government, the regions and the communities in Belgium? This article explores the sustainability risks to which various government subsections are exposed. How resilient are their finances to shocks and what can they do to help put public debt on a downward trajectory?

Ecorev art19

Households are less pessimistic overall but slightly more concerned about the job market. Their saving intentions have strengthened but not to the same degree as the sharp drop observed over the preceding two months.

consumer confidence

Our latest blog article explains the method Statbel uses to include energy prices in the measure of inflation (i.e. the consumer price index). Has inflation been overestimated due to rising energy prices? Strictly speaking, the answer is no. Rather, it is the cost of living that has been overestimated. To ensure that the measure of inflation more accurately reflects the cost of living, more countries will have to follow the proposal of the Netherlands.

Energy prices and inflation

The NBB’s Climate Hub created the dashboard to provide the broader public with more information on the consequences of climate change and the transition to net zero emissions for the economy and the financial system.  

Climate dashboard

Multinationals must pay their fair share of taxes. The OECD/G20 agreement on international tax reform (the Inclusive Framework on BEPS) proposes a two-pillar solution, providing for a partial reallocation of taxation rights to jurisdictions where sales take place and a global corporate tax rate of at least 15%.

taxation image

Rapid deglobalisation does not appear to be in the cards for now, barring serious, long-term geopolitical shocks. However, the focus of globalisation will probably shift to more careful risk management, with perhaps more regionalism and supply chains running through like-minded countries.

deglobalisation photo
  • Press release - NAI - Quarterly aggregates (2022-III)

  • Sourcing of services and total factor productivity

  • Economic indicators for Belgium (2022-48)

  • Economic indicators for Belgium (2022-49)

  • Observatory for credit to non financial companies - Quarterly update (F-N) (2022-III)

  • Statistical bulletin - Monthly update (2022-11)

  • Foreign Trade statistic - Monthly Bulletin (F-N) (2022-09)

  • Press release - Foreign Trade (F-N) (2022-09)

  • Press release - Bi-annual investment survey (2022-II)

  • Economic indicators for Belgium (2022-50)

In the picture