Executive Summary
Assessment and Recommendations
Chapter 1. From Stability to Sustained Growth: Challenges for the Belgian Economy
-The Economy Has Gained Strength
-Key Challenges Remain
Annex 1.A1. Progress in Structural Reform
Chapter 2. Securing the Sustainability of Fiscal Policy in a Rule-Based System
-Main Issues
-Fiscal Consolidation Has Been Helped by Falling Interest Rates and One-Off Measures
-The Short-Term Challenge for Public Finances is to Secure a Surplus
-The Long-Term Sustainability of Public Finances
-Fiscal Responsibilities at Various Levels of Government
-Conclusion
Chapter 3. Labour Market Reforms to Boost Employment
-Increasing Employment Rates through More Efficienct Activation
-Increasing the Sensivity of Wages to Local Considerations
-Conclusion
Annex 3.A1. Interactions betweeen EPL amd Unemployment Benefits
Chapter 4. Improving Incentives in Tertiary Education
-Belgian Tertiary Education in an International Context
-Economic Incentives
-Conclusion
Chapter 5. Enhancing the Benefits of Financial Liberalisation
-The Financial Sector is Stable and Generally Well-Functioning
-The Financial System is Highly Concentrated
-The Bancassurance Business Model May Impede Competition
-Policies to Regulate Household Borrowing May Hamper Consumption Smoothing
-Tax Concessions Have Shaped the Financial Development
-Conclusion