The macroeconomic costs of the transition to net zero are manageable. This is one finding from the recently updated NBB Climate Dashboard. 

In 2023, the value of shares issued by Belgian investment funds rose to €228.7 billion (+€26.6 billion). Belgian households continued to invest, with shareholdings in funds worth a total of €125.4 billion (+€9.1 billion).

Business confidence fell in April, after rising for two consecutive months. The drop was mainly due to declining confidence in the manufacturing industry.

The household saving rate held steady in the fourth quarter of 2023 and stood at 14.5% for the year as a whole. The corporate profit share fell slightly to 41.9% in 2023, a level well below that of the previous two years. The general government budget balance deteriorated, posting a deficit of 4.4% of GDP for 2023.

Households are much more concerned about how the job market will develop over the next three months. However, their expectations regarding the general economic situation in Belgium have somewhat improved, as have their expectations of their own financial situation.

The Belgian budget deficit widened in 2023, to 4.4% of GDP, due to rising public expenditure. This was mainly due to policy measures, the cost of population ageing and rising interest expenses. The debt ratio also increased.  

How did high inflation in 2023 affect the NBB as a central bank? In what ways is the Bank meeting its corporate social responsibility? You can learn about these issues and much more in the NBB Corporate Report 2023 (the English version will be available from 17 May).