commiss recommend juli govern kingdom belgium pursuant articl council decis eec februari dutch french text authent eec recent year commun guidelin econom polici belgium adopt council european commun emphas correct grow public financ current balanc payment imbal commiss acknowledg effort made compet belgian author past year improv situat find continu deterior forese gap budgetari guidelin probabl turn promis wide situat commiss author articl council decis eec februari take initi send recommend govern kingdom belgium poor econom social record past year contrast sharpli splendid result obtain notabl belgium membership commun enabl realiz rich potenti human resourc full cornerston europ develop tight network industri trade relat true structur crisi industri countri suffer twofold increas price petroleum product substanti blame present difficulti belgium case situat aggrav extrem open economi depend heavili prosper develop extern market competit capac sector geograph pattern market shift disadvantag belgium product cost rose high expans export slow rel term activ flag number industri level employ fell sharpest rise intern cost wage cost tax parafisc charg occur period increas import cost encourag opposit develop real incom increas faster rate main compet countri reflect excess expans privat und public consumpt time deterior term trade meant real resourc transfer abroad consequ develop gradual appar current account balanc tradition surplu close equilibrium current account deficit gross domest product member state industri countri figur deficit accompani partial link larg neg balanc public financ gener govern net borrow stand gross domest product compar commun averag close mid seventi unquestion usher period slow growth hold rise tax receipt time cost unemploy soar public budget restructur offset sluggish receipt obligatori increas categori expenditur restrict type expenditur taxat parafisc charg increas push current resourc gener govern decad gross domest product net borrow climb gdp earli seventi crucial threshold liabl reach increas central govern current resourc absorb sole increas public debt interest charg swollen seri budget deficit steep rise nation intern interest rate danger increas unemploy cost wipe margin increas public expenditur includ public servic wage public deficit tax burden increas correct state studi carri banqu national de belgiqu bureau du plan belgian economi requir radic restructur sector activ doubt danger loom horizon correct action imbal reach unmanag proport remov crucial area public financ balanc payment recent analysi conseil supérieur de financ support view commiss feel determin action line delai extern situat favour recent past recoveri world commun econom activ forecast pretext postpon action fundament problem unemploy youth unemploy solv improv equilibria restor invest central role strategi upheav recent year belgium retain tell advantag limit rate inflat stabil currenc home abroad remark product gain solid foundat provid basi recoveri line action restor competit capac hold level intern cost stimul product deliber polici encourag product invest lastli adapt successfulli fact intern trade result belgian export econom activ develop pace hold promis reduct unemploy implement rigor polici budgetari side larg volum expenditur need employ examin unemploy rule appli select find effect method fund reduc unemploy combat abus undeclar work varieti contraint categori expenditur escap examin advis examin destin term socio profession incom categori quot social expenditur quot expenditur educ health polici aim distribut cost recoveri fairli year growth incom account ground lost term competit prospect slow growth year index mechan year made flexibl line recommend member state subject merit mechan oper belgium indisput appli rigid object pursu nation account term exclud loan advanc equiti belgian forecast gener govern borrow requir includ transact gdp central govern borrow requir definit project gdp averag labour forc affect statist offic european commun definit highest rate commun countri view consider commiss recommend govern kingdom belgium measur budgetari side adopt draft central govern budget ensur current deficit central govern includ special fund fond de rout limit bfr million cash term author semi public institut local author social secur contribut share achiev adjust attain object primarili hold expenditur categori seek improv ratio capit expenditur current expenditur end propos law adopt regul base evalu current receipt cautiou forecast increas gross nation product alloc addit increas reduc deficit programm public financ borrow requir central govern includ special fund cut present averag level commun gross domest product improv budgetari manag avoid receipt alloc debudget central inform gener govern budgetari oper respect perfect budgetari procedur make easier budget approv period laid law ceas appropri approv cabinet discuss avoid tabl larg supplementari budget ensur budgetari cost initi financ taxat incom implement conclus propos commiss commun principl index member state juli monetari side banqu national de belgiqu continu tight monetari polici monetari polici relax parallel concret satisfactori progress made area econom social polici extern budgetari equilibria conclus commiss anxiou stress propos measur rapidli postpon inevit measur reform undoubtedli aggrav situat make process adjust pain poorest member belgian societi brussel juli commiss françoi xavier ortoli vice presid