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Belgian Economy

Question

Just googling I came across this ..."
..."As a result, cumulative government debt reached 121% of GDP by the end of the 1980s. However, thanks to Belgium's high personal savings rate, the Belgian Government financed the deficit from mainly domestic savings, minimizing the deleterious effects on the overall economy".. Given the Months of news stories in the State subsidised newspapers telling us all how rich we are with the highest savings levels etc, etc...are we about to have another grab at our savings and what form could it take?

From the archives

When talking about debt to GDP, don't forget to look at the growth of the economy. Is GDP increasing, decreasing, or staying the same? Starting in 1985, Belgium's GDP more than tripled in the following ten years. This probably had much more to do with the debt to GDP ratio decreasing then anything the Belgian government did with domestic savings. Here's a graph of Belgium's GDP since 1960 - http://bit.ly/piX1I4 .

Sep 5, 2011 13:55