Biggest fall since the Second World War

I found on the internet an article about the impact of the financial crisis on the Belgium economy.

Last Year Belgium was also hit by the global recession due to the financial crisis of 2008. The Belgium economy shrank as much as 3 percent. This is the biggest fall since the Second World War.

At the end of 2008 de Belgium economy even shrank as much as 4 percent but in the first half of 2009 there was a slight growth which continued to rise in the second half 2009. This was the result of investment of the Belgium Government, they increased their investment with 7, 4 percent.

The investments of the companies and the consumers decrease as much as 6.5 percent for the companies and 2.8 percent for the consumers. The Governor of the Belgian National Bank, Guy Quaden expects will recover and will know a growth between 1 and 1.5 percent during 2010.

I think that this shows that the Belgium Government had taken good measures to restrict the impact of the financial crisis on the Belgium economy although the budgetary deficit has grown again. The Government has to search a way of resolving the deficit without reducing the chances of the companies to recover of the crisis. If we compare Belgium to the other members of the European Union Belgium not even the worst member of the Union. Greece has many problems to reduce their budgetary deficit.
Many consumers have already gain again there loses on stock exchange in the first months of 2009 and will increase their investments on stock exchange. This shows that also the consumers have gain again their trust in the companies.
The financial crisis maybe not over yet but the worst part is probably past.

Source: http://www.deredactie.be/cm/vrtnieuws.english/news/100217_economy_shrinks