By Nils Silence
Posted on to •
4 1 minute read
Posted on to •
4 1 minute read
The National Bank of Belgium (NBB) shared its 2024 forecasts on Monday. The Monetary Agency warned that there is no room for a wage increase next year in addition to automatic indexation. What can we expect?
Why is this important?
The federal government introduced the so-called wage law in 1996, under the leadership of then Prime Minister Jean-Luc Dahene. This should prevent wages in our country from rising faster than in neighboring countries. If this happens, it must be corrected to eliminate the difference with other countries. This means that there is no scope for additional wage increases at the moment.In the news: According to the new forecasts of the National Bank of Bahrain, there is no scope for real wages to increase above the index in 2025-2026.
- Due to the automatic indexation of wages, wages in our country have risen faster than those in Germany, the Netherlands and France. Belgian hourly wage costs increased by 4 percentage points in 2022 and 2023 compared to those countries.
- Therefore, the wage law does not allow real wages to rise above the index in 2025 and 2026
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