"0.9% economic growth for Belgium in 2014 and 2015"

The growth predictions were made public at a press conference given by the European Commissioner for Jobs, Growth, Investment and Competitiveness Jyrki Katainen and the European Economic Affairs and Finance Commissioner Pierre Moscovici. Economic growth of 0.8% is predicted for the eurozone this year, rising to 1.1% next year.

The growth figure predictions for both Belgium and the eurozone as a whole are weak. The European Commission cites the reluctance of families to spend money, low inflation and pressure on investment as reasons for the weak growth of the Belgian economy.

Worthy of note are the growth figures in the so-called “PIGS” countries. These were hardest hit by the economic crisis, but are now showing signs of recovery. The European Commission predicts growth of 2.9% in Greece, 3.6% in Ireland and 1.7% in Spain.