Steady activity to pick up only slightly in 2025-2026, challenged by fiscal woes
AA1
LOW RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in January 2025.
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Form of state | Constitutional parliamentary monarchy |
Head of government | Alexander De Croo (PM, outgoing) |
Next elections | 2029, legislative |
Strengths & Weaknesses

- Moderate growth and resilience throughout the double crisis
- Resilient labor market
- Private consumption remains supported by wage-indexation mechanism
- Resilient financial sector proves resilient, improved profitability and capital position of banking sector
- Strategically located at the heart of Europe, home to international institutions and workers

- Under strong EU fiscal scrutiny, given large public deficit and high public debt ratio; no significant consolidation efforts are foreseen in the short term
- Automatic wage indexation translates into more persistent price pressures and hampers competitiveness
- Export-oriented country suffering in a weak global demand environment
- Political fragmentation persists
Economic Overview
Trade Structure by destination/origin
(% of total, 2023)
Trade Structure by product
(% of total, annual2023)