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IMF predicts lowest growth levels since the crisis, but is optimistic about Belgium

According to predictions published by the IMF on Tuesday global economic growth in 2019 will be 3%, the lowest level since the economic crisis a decade ago. Nevertheless, Belgium will remain largely unaffected by the slow down with growth figures of 1.2% predicted for this year and 1.3% for 2020. The IMF’s growth prediction figures for Belgium are more optimistic than those released previously by the Federal Planning Bureau and the National Bank of Belgium. 

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.