Download or read book Toward a Growth-Friendly Fiscal Consolidation in Belgium written by Jean-Jacques Hallaert and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium faces two main fiscal challenges that call for a durable fiscal consolidation. First, at above 105 percent of GDP, public debt creates vulnerabilities. Second, the aging population and early access to pension benefits will lead in the medium term to significant fiscal costs. To address these challenges, the government plans to achieve a balanced budget (both headline and structural) by 2018. The purpose of this paper is to assess whether government plans meet the objectives of growth-friendly and sustainable adjustment. It is organized as follows. The first section describes Belgium's record of fiscal consolidation. The second section highlights the features of a high quality fiscal consolidation in Belgium. The third section analyzes the implications of decentralization for fiscal consolidation.