Perspectives économiques 2018-2023 - Version de mars 2018
Economische vooruitzichten 2018-2023 - Versie van maart 2018 22/03/2018
This report constitutes a contribution to the preparation of the new Stability Programme and the new National Reform Programme. It includes the main results of the preliminary version of the “2018-2023 Economic Outlook” to be published in June 2018.
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.
In the framework of the Act of 28 February 2014 on the National Accounts Institute the Scientific Committee for the economic budget has taken note of this study and has issued an opinion on it.
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. Compared to the previous working paper devoted to this topic, the sample has been extended by six additional years and the number of evaluated variables has been increased, in particular with series at current prices. Moreover, this paper also examines to what extent the observed forecast errors are due to errors made on exogenous assumptions related to the international environment.