The FPB’s studies cover 11 main themes: Energy, Environmental economic accounts and analyses, International economy, Labour market, Macroeconomic forecasts and analyses, Public finances, Sectoral accounts and analyses, Social protection, demography and prospective studies, Structural studies, Sustainable development, Transport.
The National Recovery and Resilience Plan details the use of the €5.925 billion allocated under the Recovery and Resilience Facility. The major part (88%) of the Belgian plan is directly intended to increase the capital stock of the Belgian economy through public investment and aid to private investment. In the short term, at the peak of the plan's stimulus effect, economic activity would be 0.2% higher than in the non-plan scenario. Although the stimulus is temporary, it has long-term effects due to the increase in the public capital stock and the support for R&D activities that improve the profitability of the capital stock of firms and encourage its accumulation. By 2040, GDP is still projected to be 0.1% above non-plan growth path. This estimate does not take into account the reform component of the plan, nor the broader recovery, investment and reform plans announced by the Regions and the federal government, nor the effect of foreign plans on the Belgian economy.
Sectoral analyses are needed to understand the specific characteristics of each industry and the interdependencies between industries in the economy.
Input-output tables are a tool of choice for such analyses. More specifically, they can be used as an instrument to carry out:
The use of the environmental accounts provides interesting sectoral applications. Comparison between the different environmental accounts (AEA, Energy Use Account, EPEA, etc.) and the combination of environmental data with (macro) economic indicators (from the IOT for example) could open up new perspectives.
Linking the input-output tables with the Social Accounting Matrix will add qualitative aspects (divided according to employment characteristics or household types) to the analyses in the future.
Federal Planning Bureau