News (18)

2017

  • Consumer Price Index & Inflation forecasts 07/11/2017

    Monthly evolution of the consumer price index and of the so-called health index, which is used for the price indexation of wages, social benefits and house-rent.

  • The Belgian energy landscape by 2050 : an outlook assuming no changes in policy 27/10/2017  - Publications

    This energy outlook describes the evolution of our national energy system by 2050, assuming unchanged policy. The analysis of this outlook makes it possible to assess, at Belgian level, whether it is necessary to adopt and the extent of new measures and policies in view of the 2030 European Framework for Climate and Energy and the transition towards a low-carbon society by 2050.

  • Growth and Productivity in Belgium 17/10/2017  - Publications

    The objective of the report is to provide an overview of the main drivers of economic growth and the productivity evolution in Belgium, in comparison with its three neighbouring countries and the US over 1970 and 2015. Recent evolutions, over 2000-2015, are analysed in details in order to shed light on the impact of the great recession. The growth accounting methodology is applied to explain labour productivity growth for the total economy, manufacturing and market services.

  • Accuracy assessment of the FPB short-term forecasts - An update 12/10/2017  - Publications

    The Federal Planning Bureau is responsible, within the National Accounts Institute, for producing the macroeconomic forecasts that are used to set up the federal government budget. This working paper presents an update of the ex post assessment of the quality of these forecasts.

  • Accuracy assessment of the FPB medium-term outlooks - An update 12/10/2017  - Publications

    This working paper provides an update of a study from 2007 in which the accuracy of the medium-term outlooks for the Belgian economy is assessed. The study is expanded with nine additional editions of the Economic Outlook covering a mixture of pre-crisis, crisis and post-crisis periods.

  • Belgian economic growth is expected to amount to 1.7 % in both 2017 and 2018 07/09/2017  - Press releases

    The euro area economy keeps growing steadily, at 2.1 % this year and 1.8 % next year, according to estimates. Compared to the June forecasts, these figures have been revised upwards. The forecasts for the Belgian economy have also improved, albeit to a lesser extent. Employment is expected to rise by 104 000 people over these two years, while inflation should cool down considerably in 2018.

  • Vehicle stock modelling in long term projections - Survey of the literature 07/08/2017  - Publications

    Transport models used for long-term projections should reflect the impact of shared, automated and electric mobility modes. The objective of the current paper is to derive lessons from the existing literature on vehicle ownership modelling to find options to further improve the PLANET model, which is used for projections of transport demand in Belgium.

  • Tax Expenditure and the Cost of Labour Taxation - An application to company car taxation 04/07/2017  - Publications

    The goal of this paper is to estimate the efficiency cost of one additional euro of revenue through the personal income tax system, considering its simultaneous effects on the labour market and the transport market. More precisely, we seek to derive estimates of the Marginal Excess Burden of marginal personal income tax rates in Belgium considering the subsidization of company cars. We find that taking into account of welfare losses in the transport market adds 5-7 cents to the welfare cost of an additional euro of tax revenue, compared to models that consider only the effects on the labour market.  The cost of raising the top marginal tax rate rises by 28% to 58% depending on the model assumptions. As an aside, we estimate tax expenditure on the transport sector via the personal income tax system to be 1.9 billion euro. We conclude that there is scope for welfare improving by base broadening and rate cutting. The framework is applied to analyse the merits of cash-for-car proposals.

  • Belgian economic growth should amount to 1.6 % both in 2017 and 2018 08/06/2017  - Press releases

    European economic activity has so far proved to be more robust than expected in the wake of the Brexit referendum. The growth forecasts for the Belgian economy in 2017 have hence been revised upwards to 1.6 %. The same growth rate is expected in 2018. In both years, private consumption and business investment in particular should support economic growth. Net employment should rise by 105 000 people over these two years, while inflation should cool down in 2018. In accordance with the Law of 21 December 1994, the National Accounts Institute (NAI) has transmitted the figures of the economic budget to the Minister for Economy. These macroeconomic forecasts will serve as a basis for the 2018 budget review.

  • What matters to Belgians ? Analysis of the determinants of individual well-being in Belgium 02/06/2017  - Publications

    This Working Paper analyses the determinants of individual well-being in Belgium, using data from the EU-SILC survey. The analysis shows that on average health, both mental and physical, is the key determinant of well-being for Belgians. Enjoying sufficient income to access what is regarded as the prevailing standard of living in Belgium, having a job and being surrounded by loved ones also have a significant and positive impact on well-being. Besides these results for “average” Belgians, the analysis of different sub-groups highlights that these determinants are not of equal importance to all Belgians. These results contribute to the FPB’s work on the search for indicators complementary to GDP.

  • The well-being of Belgians: income is just part of the picture 02/06/2017  - Press releases

    Health is the main determinant of the well-being of Belgians. Income matters but to a lesser extent. Having a job and being surrounded by loved ones also have an impact on well-being. These results apply to an “average” Belgian. The analysis of different sub-groups shows that these determinants are not of equal importance to all Belgians.

  • Qualitative employment data for Belgium : 1999-2015 01/06/2017

    In this database, domestic employment, labour volume (hours worked) and the wage costs of wage earners are broken down per industry (A38 of Nace rev. 2) according to gender, age group and education level. The breakdowns of employment and labour volumes are available for domestic employment as a whole and for wage earners and self-employed people separately. The database provides annual results for the period 1999-2015 and corresponds with the last edition of the national accounts (October 2016).

  • Regularization of study periods in the wage earners’ scheme – An analysis of typical cases 12/05/2017  - Publications

    This Working Paper examines for which persons it is profitable to regularise study periods and how many study periods would be regularised in the employees' scheme. This analysis of typical cases takes into account different income levels, different payment periods of the regularisation contribution, the number of actual career years and the number of regularised study periods.

  • Cost-benefit analysis of a selection of policy scenarios on an adequate future Belgian power system - Economic insights on different capacity portfolio and import scenarios 23/02/2017  - Publications

    In this report, different capacity portfolio and import scenarios for Belgium are investigated. They are based on the reports published by the Belgian transmission system operator Elia in 2016. Four scenarios are scrutinized differing in their overall context (level of carbon price) and/or in the choice of the content of their structural block. A fifth scenario is added which constitutes a sensitivity analysis: in this scenario, a considerable amount of new natural gas-fired power plants on top of the structural block is built on the Belgian territory in order to study the impact of a fairly lower level of (net) imports and even explore the net export option. The five scenarios are compared in order to assess potential longterm strategic choices from a societal perspective.

  • Public Investment in Belgium 27/01/2017  - Press releases

    Belgian government investment, and specifically the part spent on infrastructure, is relatively low both in historical terms and compared to neighbouring countries. A simulation with the European Commission’s Quest III model suggests that increasing government investment permanently by 0.5% of GDP leads to a growth in GDP, private consumption and private investment. The impact of alternative financing mechanisms is compared.

2016

  • The population at risk of poverty or social exclusion in Belgium - Projection until 2030 28/11/2016  - Publications

    This Working Paper presents, on the basis of information available until July 2016, a projection at unchanged policy until 2030 of the population at risk of poverty or social exclusion in Belgium, as defined in the framework of the Europe 2020 Strategy. This population should amount to 2.232 million people in 2018, or 418 000 more than the Europe 2020 target. By 2030, its share should shrink to 16.1%, still 5.6 percentage points higher than the goal resulting from the UN 2030 Agenda for Sustainable Development.

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