Economy of Belgium will enter into recession in 2009.

Central Bank of Belgium expects the economy will enter into recession in 2009, tells AFP. According to the Central Bank forecast, the GDP of Belgium in 2009 will decline by 0.2 percent. According to the Belgian Central Bank, this will be the most significant decrease in the economy since 1993.
In a global financial crisis the state budget deficit will grow from 0.9 to 1.7 percent of GDP. This will contribute not only to economic decline but also government spending to maintain the financial system Belgium. In doing so, the public debt will rise to 87 per cent of GDP.
Increase public deficits Belgium contributed, in particular, the provision of 3.5 billion euros to support one of the largest banking groups in the country - KBC.
Belgium was not the first European country, announcing a possible recession in 2009. Earlier, the Danish Government has stated that next year the economy will decline by 0.2 percent. Earlier, the Ministry of Finance expected that the GDP of Denmark in 2009 to grow by 0.5 percent.