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Macro - Country Economic Forecasts - Belgium

Publisher Oxford Economics
Published Jan 29, 2026
Length 8 Pages
SKU # OFE20872815

Description

We forecast the Belgian economy will expand by 1.3% in 2026, after growing by 1.0% in 2025. Trade policy uncertainty will discourage businesses from investing. Tariffs will lower Belgium's direct exports to the US by making them more expensive and hit demand for Belgian-produced inputs into other countries' US-bound exports. We expect inflation to average 1.6% in 2026, after 2.5% in 2025, with a stubborn services component pushing up the headline figure.

Table of Contents

8 Pages
Belgium: Inflation falls but the services component is sturdy
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Policy and politics

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