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To promote transparency and provide information, the Federal Planning Bureau regularly publishes the methods and results of its works. The publications are organised in different series, such as Outlooks, Working Papers and Planning Papers. Some reports can be consulted here, along with the Short Term Update newsletters that were published until 2015. You can search our publications by theme, publication type, author and year.

Documents (278)


  • Economic outlook 2024-2029 – June 2024 version 14/06/2024

    This report presents the results of the June version of the "Economic Outlook 2024-2029". It describes the international context and the outlook for Belgian economic growth, inflation, energy consumption, greenhouse gas emissions, labour market and public finances.

    Forecasts & Outlook - FOR_MIDTERM_2429_13014  Publication(fr), Publicatie(nl),

  • Description et utilisation du modèle HERMES
    Beschrijving en gebruik van het HERMES-model 06/02/2024

    The Federal Planning Bureau's econometric model HERMES will be used to calculate the macroeconomic and budgetary impact of each political party's set of priority measures over the next legislature. This working paper summarises the characteristics of the model and describes its structure and main transmission mechanisms. It then illustrates the functioning of the model using several economic policy variants. Finally, this working paper describes the procedure for constructing the reference scenario and presents the main results of the June 2023 economic outlook. Those forecasts constitute the prefiguration of the reference scenario which will be published in February 2024, covering the period 2024-2029. 

    Working Papers - DC2024_WP_04  Publication(fr), Publicatie(nl),


  • Economic Outlook 2023-2028 - June 2023 version 15/06/2023

    This report presents the results of the June version of the "Economic Outlook 2023-2028". It describes the international context and the outlook for Belgian economic growth, inflation, energy consumption, greenhouse gas emissions, the labour market and public finances. The Outlook is based on information available on 6 June 2023.

    Forecasts & Outlook - Economic outlook 2023-2028 (June)  Publication(fr), Annexe statistique(fr), Publicatie(nl), Statistische bijlage(nl),


  • The bottom-up HERMREG model – A multiregional model of the Belgian economy 03/02/2022

    This Working Paper describes the main characteristics of the multiregional bottom-up model, named HERMREG. This model is used by the Federal Planning Bureau (FPB) and its three regional partners in the HERMREG project (IBSA-BISA, IWEPS, Statistiek Vlaanderen) to analyse the short and medium-term impact of economic policies in the three Belgian regions. 

    Working Papers - Working Paper 01-22  Publication(fr), Publicatie(nl),


  • Macroeconomic and fiscal effects of the draft National Recovery and Resilience Plan - Report to the Secretary of State for Recovery and Strategic Investments 28/04/2021

    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.

    Reports - REP 12401  Publication(en), Publication(fr), Publicatie(nl),


  • Estimation of Potential growth and output gap for Belgium 15/10/2020

    This report shows the estimations of potential growth and the output gap for Belgium, based on a technical update of the Federal Planning Bureau’s June 2020 medium-term projections (update published in September 2020). The results are then compared to the European Commission’s Spring 2020 forecasts.

    Reports - REP_12229  Publication(fr), Publicatie(nl),

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