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Macro - Country Economic Forecasts - Belgium

Publisher Oxford Economics
Published Aug 29, 2025
Length 8 Pages
SKU # OFE20418440

Description

We forecast the Belgian economy will expand by 1.2% this year and 1.3% next. Not only will tariffs lower Belgium's direct exports to the US by making them more expensive, but they will also affect demand for Belgian-produced inputs for other countries' US-bound exports. Moreover, trade uncertainty will make businesses reluctant to invest. We expect inflation will average 1.9% in 2025 and 1.0% in 2026, with tariffs helping the disinflationary process due to the hit to demand and energy prices.

Table of Contents

8 Pages
Belgium: Inflation stays below target
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Policy and politics

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