The Flemish economy is set to grow by 1.4% in 2023, according to forecasts published on Thursday by Statistics Flanders (Statistiek Vlaanderen).
If these figures are confirmed, the economy in the Flemish-speaking region of the country would undoubtedly outstrip the European average, as well as growth in Brussels and Wallonia. For 2024, growth is expected to accelerate to 1.7%.
The Flemish statistics institute has raised its growth forecast for Flanders by a fraction, due to a slowdown in inflation in recent months.
For Brussels, Statistics Flanders expects growth of 1.3% in 2023, while in Wallonia it expects growth of 0.9%.
The new statistics concur with estimates released by the Federal Planning Bureau in July, which predicted that the Flemish economy would grow by 1.4% this year.
The Flemish economy was hit less hard than those of Wallonia and Brussels by the Covid-19 pandemic and the recent energy crisis, and it is expected that it will weather external shocks in the coming years.
The higher growth in Flanders is attributed to a higher contribution from market services and more growth in the industrial sector.
