Belgium will lose 2.35% of GDP due to the UK leaving the EU without a deal

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UNITED STATES (VOP TODAY NEWS) — The consequences of a British exit from the EU without an agreement could result in the loss of more than 42 thousand jobs and 2.35% of GDP for the Belgian economy, said Peter Timmermans, a representative of the Belgian Federation of Enterprises.

“Belgium’s losses could amount to 2.35% of GDP and more than 42 thousand jobs,” Timmermans told reporters in Brussels.

Earlier, RTBF TV and Radio Company reported that 5 thousand of the 25 thousand Belgian companies that do business with companies in the United Kingdom are currently prepared for the consequences of Brexit.

The Flemish authorities claim that Brexit to a greater extent threatens precisely this most economically developed and populated region of Belgium. In this regard, the head of the regional government, Geert Bourgeois, called on the Flemish companies to be prepared for this situation and to reorient their business to new markets.

According to the evaluation of the international consulting company Deloitte, Belgium, after Germany, France and the Netherlands, is one of the four European Union member countries for whom the upcoming UK exit from the community may have the most adverse economic effect. The consequences will mainly be felt in Flanders, which accounts for 80% of Belgian exports to the UK.

According to Deloitte, Belgian companies should “prepare for the worst now.” The UK is one of the top five economic partners in Belgium. The share of the United Kingdom accounts for about 32 billion euros of Belgian exports, or up to 9% of the total supply of goods abroad. These are mainly automobiles, products of the chemical and pharmaceutical industries, food, beverages, textiles, synthetic materials and manual mechanical equipment.

On March 12, British deputies again rejected the agreement with the EU on Brexit, and again by an overwhelming majority.

On March 13, the parliament, as promised earlier by the Prime Minister, will have to vote on the issue of withdrawing from the EU on March 29 without an agreement, and if deputies oppose such a Brexit scenario, then on March 14, the question of postponing Brexit for two months will be raised.

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

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