Belgian Economy in Crisis: The Truth behind the Numbers

2024-04-28 20:00:00

Have we still been better than the others? And have our governments become more inspired? No, twice no. Because the country’s good resistance to the shocks of recent years is in reality a disgrace: it is actually to be found in the automatic indexation of wages that made it possible to avoid eroding the purchasing power of Belgians, where the blow was much harder for citizens from other EU countries . It is a well-known reality: Belgium does better than other economies in Europe when inflation rises, but on the contrary, struggles to benefit from a return to growth.

Inflation above 3% in 2024? Recent data suggest this possibility

While the polls raise the specter of another protracted political crisis the day following the election – the proximity of the local council vote in October should paralyze things a little more – one certainty emerges: our country will quickly be overtaken by the economic agenda. Because the first indicators already portend a difficult future: the exports of our companies are lagging behind, once morest a backdrop of the deterioration of our competitiveness, the deindustrialization of our economic structure is accelerating – including in Flanders – and the entrepreneurial dynamic is coming to a halt.

The legislature that ends up in this context of crisis will have finally masked the great ills of the Belgian economy: inefficiency in public spending, crushing taxation, exorbitant labor costs… The next leaders will have the obligation to overcome their ideological differences to finally dare to fundamentally reform our socio-economic model which has become archaic. Otherwise, decline will be inevitable…

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#warning #sign #Libre

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