Exports and fiscal reforms drive Wallonia's economic growth

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Article Critique
In this article, "Exports and fiscal reforms drive Wallonia's economic growth" the author reveals that Belgium is not only avoiding recession in 2013, but also has ridden out the crisis better than most countries in the eurozone. Exports in Belgium have been increasing annually since 2009. Assisted by its proximity and close corporate links to Germany, which is Belgium’s largest trading partner, the Belgian economy has remained relatively intact. According to Euro stat, in 2013, Belgium’s GDP will remain flat before rising at rate of 1.2% in 2014. Wallonia, which is said to have been dragging Belgium’s economy since 1960, has outperformed neighboring Flanders on economic growth since 2000.
Wallonia’s economy has been thriving magnificently because of a noteworthy growth in its exports. Over the past ten years, exports in Wallonia have increased by approximately 10% annually, and they amount to more than three-quarters of the areas GDP. In addition, Germany imports are expected to rise in the coming months, as its economy picks up. As a result, Belgium will realize a flourishing economy since Germany depends largely on its exports. Belgium’s economy has also been strengthened by the various government policies. Belgium’s government has imposed tough economic reforms without strangling its economic growth.
From this article, it can be learnt that exports play an essential role in influencing a country’s economic growth. Growth in exports creates more employment opportunities, and as a result, consumer spending will increase providing a favorable market for various products. In addition, growth in exports has a significant influence in determining the current account deficit. Many coun...