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2005 OECD Economic Surveys: Belgium 2005

image of OECD Economic Surveys: Belgium 2005
This survey of Belgium's economy takes a comprehensive look at the country's most pressing economic problem: population ageing.  After looking at the economic and budget consequences of ageing, the report examines a number of responses including putting public finances on a sustainable path, constraining health expenditure growth, increasing the employment rate, enhancing the economic impact of migration, raising achievement in secondary education, and increasing productivity growth.

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Putting Public Finances on a Sustainable Path

This chapter discusses fiscal policy and public sector reforms with a view to keeping public finances on a sustainable path. As simulations show that the costs of ageing can be financed almost entirely by rapid debt reduction, the High Finance Council recommends that a structural budget surplus of 0.3% of GDP be reached in 2007. The OECD estimates that in order to achieve this target, to which the government has formally committed itself in its latest update to the Stability and Growth...

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