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2007 OECD Economic Outlook, Volume 2007 Issue 1

image of OECD Economic Outlook, Volume 2007 Issue 1
This issue of OECD's twice-yearly OECD Economic Outlook provides analysis of recent economic developments and economic projections for OECD and major non-OECD countries through the end of 2008. Its comprehensive statistical annex is a useful reference tool for international economic comparisons. Two special reports are included: one covers the effects of globalisation and how to maximise its benefits and minimise its adjustment costs. The second covers fiscal consolidation.

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Belgium

After a robust expansion of 3% in 2006, the pace of growth should moderate in 2007-08, but remain sufficiently strong to close the output gap by the end of the projection period. Domestic demand is underpinned by higher employment and real incomes. Recent improvements in competitiveness should help enhance export market performance. Inflation is expected to be only gradually affected by rising cost pressures.

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