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Exploring Australia and Belgium
Exploring Australia and Belgium
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Exploring Australia and Belgium

17/12/2018

This month, our experts, William De Vijlder and Arne Maes, from BNP Paribas Economic Research Department, examine Australia and Belgium’s economic perspectives

Australia: recession, a distant memory

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William De Vijlder, BNP Paribas Economic Research Department

Australia has seen 27 years without a recession and IMF and OECD forecasts show ongoing growth in coming years. Population growth, productivity growth, commodity exports to China and other fast growing Asian economies have played an important role together with policy aimed at enhancing economic flexibility. The floating exchange rate has been an important countercyclical and hence stabilising factor. The housing boom has become a source of concern from a financial stability perspective with recent prudential measures allowing for a “positive correction”.

To read the full analysis: here

Belgium: more investment is overdue

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Arne Maes, BNP Paribas Economic Research Department

Activity is unlikely to pick up again after sluggish growth in the first half of the year. Jobs are, however, still being created at a solid pace, cushioning possible spill-over effects from the weakening external environment. Corporate investment remains rather slow, partly because of geopolitical tensions. The budget stance remains too accommodative, as further fiscal consolidation seems rather unlikely, given the upcoming federal elections in May 2019. Growth is projected to slow to potential and inflation could decline to 1.5% by end 2019

To read the full analysis: here

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