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Belgium: Economic forecast up slightly from 2014

Xinhua, February 6, 2015 Adjust font size:

Belgium can expect a moderate economic upturn in 2015, according to the latest figures released on Thursday by the European Commission (EC).

According to the EC's winter economic forecast report, Belgium is predicted to experience an economic growth rate of 1.1 percent in 2015. With the current trend, that figure is expected to rise to 1.4 percent in 2016.

This is an improvement on forecasts made at the end of 2014, which foretold a 0.9 percent economic improvement in Belgium for the year 2015.

The Belgian government deficit is predicted to be 2.6 percent in 2015, down from 3.2 percent last year.

According to eurozone fiscal rules, no member of the single currency bloc should have a deficit rate of above 3 percent.

Unemployment is also foreseen to drop to 8.3 percent in 2015, the report revealed.

However, public debt remains high, with a forecast of 106.8 percent of gross domestic product in 2015, slightly up from 106.4 percent in 2014.

The EC's economic forecasts are published three time a year, and monitor economic developments within the eurozone and the European Economic Area. Endit