The Fiscal Cost of Aging in Belgium: Pensions and Healthcare

Author: Mr. Jean-Jacques Hallaert

Belgium faces a fiscal consolidation challenge at a time when the fiscal cost of aging—primarily related to pension and health outlays—is mounting.

Volume/Issue: Volume 2023 Issue 065

Publication date: December 2023

ISBN: 9798400264405

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Topics covered in this book

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Labor , Money and Monetary Policy , Public Finance , International - Economics , Demography , Belgium , Aging , Fiscal cost of aging , Pensions , Healthcare , reorganization cost , cost of aging , cost pressure , fiscal cost , healthcare cost , Pension spending , Europe , Global

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Summary

Belgium faces a fiscal consolidation challenge at a time when the fiscal cost of aging—primarily related to pension and health outlays—is mounting. Pension spending will increase relatively fast unless a combination of measures related to pension generosity and retirement eligibility are put in place. Potential efficiency gains are large in the health sector and could absorb part of the fiscal and reorganization costs related to an aging population.