New Country Reports market report from Business Monitor International: "Belgium Business Forecast Report Q3 2013"
Boston, MA -- (SBWIRE) -- 06/03/2013 -- Despite enjoying a spritely recovery following the global financial crisis, the Belgian economy is now struggling against mounting headwinds from the eurozone.
A particular concern is the national debt which, at close to 100% of GDP, leaves Belgium vulnerable to a deterioration in risk sentiment and slowdown in economic growth.
Although the formation of a new government has ended 18 months of political paralysis, the six-party coalition could yet struggle to overcome ideological differences in order to tackle much-needed fiscal and economic reforms.
Major Forecast Changes
We have revised our 2013 real GDP growth estimate to 0.1% from 1.1% previously.
Key Risks To Outlook
Downside Risks To Medium-Term Growth: There are significant downside risks to our economic growth forecasts, particularly stemming from the impact of fiscal consolidation and the eurozone sovereign debt crisis.
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