Belgium GDP in 2020 will decline by 9%.
In connection with the introduction of quarantine for pandemic coronavirus from the middle of March Belgium lost 47 billion euros, reports the Chronicle.info with reference to the Correspondent.
Recovery in 2021 or 2022 will not be able to compensate for the predicted decline of 9% this year, said the Central Bank of Belgium.
Belgium GDP will decline by 9% this year and then grow by 6.4% in 2021 and by 2.3% in 2022. As a result, by the end of 2022, GDP will be approximately 4% lower than had been anticipated before the pandemic.
Also from the crisis will be a constant influence — bankruptcy, the transition from temporary unemployment to regular. Trade to the same, will not resume as before.
The Bank forecasts that the debt of Belgium, which is around 100% of GDP, expected to grow by about 120% because of the increase in government spending and slower growth. The Bank noted that the current crisis is the lightest.
We will remind that earlier the Belgians filed a lawsuit against the government because of the quarantine. Activists believe that the authorities of Belgium have copied the measures of China against COVID-19 without taking into account European human rights standards.