Macro - Country Economic Forecasts - Belgium

Macro - Country Economic Forecasts - Belgium

We estimate Belgium's economy will expand by 0.9% this year and 0.8% in 2024, as the delayed impact of tighter monetary policy continues to weigh on the outlook. But the recent H1 data revision represents an upside risk to our outlook. We have lowered our average inflation forecast for 2023 by 0.1ppt to 4.2% due to an easing food component and expect inflation will average 1.8% in 2024.