OECD Economic Outlook, Volume 2022 Issue 1
The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges.
This issue includes a general assessment of the macro-economic situation and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD Members as well as for selected partner economies.
Belgium
Growth will continue to slow due to heightened uncertainty, but will remain robust at 2.4% in 2022, before falling to 1% in 2023. Domestic demand will be supported by automatic wage indexation, energy support measures and continued growth in employment. The unemployment rate is projected to stay above 6%. Headline inflation will start subsiding through the second half of 2022, but core inflation will remain high over the projection period.
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