Boston, MA -- (SBWIRE) -- 02/19/2014 -- Despite enjoying a relatively stronger recovery than several other eurozone member states, the Belgian economy is nonetheless vulnerable to the lingering crisis in the single-currency area.
A particular concern is the national debt which, at close to 100% of GDP, leaves Belgium exposed to a deterioration in risk sentiment and slowdown in economic growth.
Although the formation of a new government 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.
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Major Forecast Changes
We have revised down our 2015 real GDP growth forecast to 1.6% from 1.9% previously.
Key Risks To Outlook
There are significant downside risks to our economic growth forecasts, particularly those stemming from the impact of fiscal consolidation and the eurozone sovereign debt crisis.
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