An iceberg, that's how Pieter Timmermans, CEO of the Federation of Enterprises in Belgium (FEB), compared the situation of the Belgian economy on June 27, 2023, during the presentation of his semi-annual economic survey.
An iceberg with a small, beautifully white-looking part above the water, and a dangerously large part below the water, where we are at risk of colliding, just like the Titanic. What protrudes above the waterline is what is still running well in the Belgian economy.
Real purchasing power is increasing by 3.5 to 4 percent this year, jobs are being created, inflation is decreasing, and economic growth in Belgium is higher than in other countries. "But that's the short term. Politicians seem to reason that there is nothing wrong. As a result, this government keeps postponing any serious reforms. That is dangerous. The current growth is boosted by purchasing power measures that cost the government money."