The IMF expect that the Belgian economy will experience relatively little ill-effect from the slowing down of the global economy.
The International Monetary Fund predicts that global economic growth will fall back to 3%, its lowest level since the 2008 banking crisis.
The Euro Zone is lagging behind
The IMF predicts economic growth of 2.4% in the USA, 6.1% in China and India and 1.2% for the Euro Zone as a whole. The Euro Zone’s biggest economy Germany will see growth fall to 0.5%, Italy will see zero growth which France and Belgium will see their economies grow by 1.2% this year if the IMF’s predictions ring true.
In April of this year the IMF published growth predictions for Belgium of 1.3% for this year and 1.4% for 2020. Although the new figures have been revised down they are still higher than the 1.2% and 1.1% growth projections made by the National Bank and the Planning Bureau respectively.