Belgium’s economy will stagnate this year and return to growth in 2013, the International Monetary Fund said.
The IMF raised its 2012 outlook from last month’s forecast of a 0.1 percent contraction. The Washington-based lender maintained its projection of 0.8 percent growth in 2013, according to its World Economic Outlook, published today.
Belgium’s inflation rate will fall to 2.4 percent this year and 1.9 percent in 2013, according to the IMF report. The country will post a current-account deficit equivalent to 0.3 percent of gross domestic product in 2012 and a surplus of 0.4 percent of GDP next year, while the unemployment rate will rise to 8 percent and 8.3 percent, respectively.
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