The Fiscal Cost of Aging in Belgium PDF Download
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Author: Mr. Jean-Jacques Hallaert
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Belgium faces a fiscal consolidation challenge at a time when the fiscal cost of aging—primarily related to pension and health outlays—is mounting. Pension spending will increase relatively fast unless a combination of measures related to pension generosity and retirement eligibility are put in place. Potential efficiency gains are large in the health sector and could absorb part of the fiscal and reorganization costs related to an aging population.
Author: Mr. Jean-Jacques Hallaert
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 33
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Book Description
Belgium faces a fiscal consolidation challenge at a time when the fiscal cost of aging—primarily related to pension and health outlays—is mounting. Pension spending will increase relatively fast unless a combination of measures related to pension generosity and retirement eligibility are put in place. Potential efficiency gains are large in the health sector and could absorb part of the fiscal and reorganization costs related to an aging population.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
Belgium: Selected Issues
Author: OECD
Publisher: OECD Publishing
ISBN: 9264591745
Category :
Languages : en
Pages : 151
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Book Description
Belgium’s economy has been relatively resilient to recent shocks and is expected to continue to grow steadily. Public finances have deteriorated though. In absence of fiscal consolidation, the debt-to-GDP ratio is projected to rise fast. Cutting ineffective public spending and reforming the budgetary framework to increase accountability across governments would help ensure public finances are on a sustainable path. Reforms to taxes and benefits could foster labour market activation and expand the tax base. Strengthening prevention and return-to-work programmes could contribute to tackling the high and increasing take up of disability benefits and better support employment of people with reduced work capacity. A coordinated strategy to reduce administrative costs and facilitate small firms’ access to training could increase business dynamism and productivity. Targeted support for female entrepreneurs could also unlock additional potential of the SME sector. Achieving the green transition requires setting up binding targets and improving coordination of climate policy across federal and regional governments. Easing procedures and improved financing schemes would help deploy renewable energy production. Transparency in future environmental standards with adequate and well-targeted financial incentives would sustain household investment in energy efficiency and electrification, particularly in the transportation and building renovation sectors. SPECIAL FEATURES: LABOUR MARKET, CLIMATE POLICY, SMALL- AND MEDIUM-SIZED ENTERPRISES
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451803184
Category : Business & Economics
Languages : en
Pages : 55
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Book Description
This Selected Issues paper analyzes fiscal devolution in Belgium. It examines long-term fiscal strategies for meeting the fiscal burden of population aging. The paper presents estimates of the fiscal costs of population aging in Belgium, and discusses their sensitivity to underlying assumptions. Strategies for meeting the fiscal costs of aging are discussed. Specifically, a strategy of swift debt reduction is discussed to see what budget surplus would be needed to reduce debt and interest payments rapidly enough to finance these costs. Alternative policy options are also discussed to show the consequences of delayed fiscal adjustment.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264233385
Category :
Languages : en
Pages : 264
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Book Description
The health systems we enjoy today, and expected medical advances in the future, will be difficult to finance from public resources without major reforms. Public health spending in OECD countries has grown rapidly over most of the last half century. These spending increases have contributed to ...
Author: OECD
Publisher: OECD Publishing
ISBN: 9264008667
Category :
Languages : en
Pages : 194
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Book Description
This survey of Belgium's economy takes a comprehensive look at the country's most pressing economic problem: population ageing.
Author:
Publisher:
ISBN:
Category : Belgium
Languages : en
Pages : 52
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Book Description
Author: Carol Yeh-Yun Lin
Publisher: Springer Science & Business Media
ISBN: 1461480213
Category : Business & Economics
Languages : en
Pages : 130
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Book Description
In the first decade of the twenty-first century, the biggest event of worldwide proportion was the 2008 global financial crisis, which was caused primarily by ineffective governance, failed surveillance systems, and implementation flaws. While fiscal and monetary policies succeeded in pulling many countries out of a financial freefall, most economies have performed beneath pre-recession levels as governments continued to struggle with their finances. Examining the financial crisis from the viewpoint of intangible assets provides a different perspective from traditional economic approaches. National Intellectual Capital (NIC), comprised mainly of human capital, market capital, process capital, renewal capital, and financial capital, is a valuable intangible asset and a key source of national competitive advantage in today’s knowledge economy. The authors—pioneers in the field—present extensive data and a rigorous conceptual framework to analyze the connections between the global financial crisis and NIC development. Covering the period from 2005 to 2010 across 48 countries, the authors establish a positive correlation between NIC and GDP per capita and consider the impact of NIC investment for short-term recovery and long-term risk control and strategy formulation. Each volume in a series of SpringerBriefs on NIC and the financial crisis provides in-depth coverage of the impact of the crisis, the aftermath, future prospects, and policy implications for a regional cluster. This volume focuses on Austria, Belgium, the Netherlands, and Switzerland.
Author: Yu Ching Wong
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
Belgium is facing higher structural deficits and rising debt after the pandemic and energy crisis. Fiscal consolidation is needed to lower inflation, rebuild buffers, reduce debt, and preserve Belgium’s social contract. While designing an appropriate fiscal consolidation path involves trade-offs, an ideally front-loaded and significant adjustment to achieve a medium-term structural balance would reduce public debt towards the 60 percent debt threshold, significantly reducing vulnerabilities. Experiences in other countries and in the past in Belgium show that while ambitious, such an adjustment is achievable. Comparisons with peers show that rationalizing and increasing the efficiency of social benefits and the public wage bill would need to be at the core of the consolidation effort. All federal entities should share the burden of the adjustment, in a coordinated manner, with accountability at all levels of government, and within a credible and clear multi-year consolidation plan. Comprehensive spending reviews would help target budgetary saving. To mitigate the growth impact in the near term and boost potential growth, public investment should be preserved, and the adjustment should go together with structural reforms to increase labor force participation and productivity.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264438920
Category :
Languages : en
Pages : 125
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Book Description
Belgium’s recovery from the COVID-19 pandemic has been robust thanks to extensive policy support. However, the new shock from the war in Ukraine is exacerbating inflation, and supply and labour market shortages, highlighting the importance of boosting the resilience of the Belgian economy.
