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Belgium re-forecasts economic growth for 2018
28/5/2018 12:00 am [rtl] Brussels - Belgium's banking insurance group revised its 2018 economic growth forecast for Belgium from its original 1.9 percent to 1.6 percent, citing the risk of escalating trade disputes with the United States and political uncertainty over the future of the deal with Iran, economic sanctions and rising oil prices. Economists expect a serious slowdown in the economy this year, says group economist Jan van Hoof. Van Hooff points out: "The general mood is dim and the political uncertainty in the world and in Europe, for example, the election results in Italy. This defeatist feeling is also marked in the business world. Hoff said the group's expectations were less optimistic than others, with an average forecast of 1.8 percent. Van Hoof said: "Relative optimism remains, but business people say they feel the economic downturn is coming. The risk of escalating global trade disputes could also affect Belgium's economy, as could the weakening dollar and rising oil prices. Increases in oil prices usually lead to a deterioration in the trade balance. Belgium is particularly vulnerable because of its important chemical sector and its relatively high energy intensity, the bank insurance company said. However, some elements remain positive for Belgium's economy: real economic growth is still higher than potential growth because the steady increase in domestic consumption and investment can be observed. Belgian banking insurance revised its original growth forecast for 2019 from 1.7 percent to 1.5 percent.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=157762 [/rtl] |
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