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Regional Economic Prospects: the HERMREG project

The HERMREG project is the common macroeconomic model of the Institut Bruxellois de Statistique et d’Analyse (IBSA), the Institut Wallon de l’Evaluation, de la Prospective et de la Statistique, the Research Centre of the Flemish Government and the Federal Planning Bureau

Perspectives économiques régionales cover

The Brussels Institute for Statistics and Analysis (BISA) publishes Regional Economic Prospects each year which present the mid term development of various macroeconomic aggregates in the Brussels-Capital Region and the two other Regions in the country. These projections are based on the HERMREG model developed by the BISA in collaboration with its Flemish and Walloon counterparts and coordinated by the Federal Planning Bureau.

HERMREG is a multi-region and multi-sectoral model based on a top-down macroeconometric approach. The regional projections obtained in this way are consistent with the results of the national economic outlooks gained from the HERMES model of the Federal Planning Bureau. The HERMREG model uses different modules, especially for demographic variables, macroeconomic and sectoral aggregates, the labour market, household income figures, public finance and greenhouse gas emissions. The projections are based on the regional accounts published by the National Accounts Institute.

Regional Economic Prospects 2017-2022

The regional economic prospects 2017-2022 were published in July 2017. The Federal Planning Bureau‘s national projections, presented in June 2017, were chosen as the starting point. The medium-term regional projections cover the following areas: macroeconomic and sectorial evolutions, labour market, household income, public finances and greenhouse gas emissions. 

 

 

Regional Economic Prospects 2016-2021

The regional economic prospects 2016-2021 were published in July 2016. The Federal Planning Bureau‘s national projections, presented in June 2016, were chosen as the starting point. The medium-term regional projections cover the following areas: macroeconomic and sectorial evolutions, labour market, household income, public finances and greenhouse gas emissions. 

 

 

Regional Economic Prospects 2015-2020

The regional economic prospects 2015-2020 were published in July 2015. The Federal Planning Bureau‘s national projections, presented in May 2015, were chosen as the starting point. The medium-term regional projections cover the following areas: macroeconomic and sectorial evolutions, labour market, household income, public finances and greenhouse gas emissions. 

 

 

Regional Economic Prospects 2014-2019

The regional economic prospects 2013-2018 were finalised in July 2014. The Federal Planning Bureau‘s national projections, presented in June 2014, were chosen as the starting point. The medium-term regional projections cover the following areas: macroeconomic and sectorial evolutions, labour market, household income, public finances and greenhouse gas emissions.

 

 

Regional Economic Prospects 2013-2018

The regional economic prospects 2013-2018 were finalised in June 2013. The Federal Planning Bureau‘s national projections, presented in May 2013, were chosen as the starting point. The medium-term regional projections cover the following areas: macroeconomic and sectorial evolutions, labour market, household income, public finances and greenhouse gas emissions.

 

 

Regional Economic Prospects 2012-2017

The Regional Economic Prospects 2012-2017 were published in May 2012. They are based on the national projection published by the Federal Planning Bureau in May 2012. The Regional projections cover the following areas: macroeconomic and sectoral developments, the job market, household income accounts, public finance and greenhouse gas emissions.

 

 

Regional Economic Prospects 2010-2016

The Regional Economic Prospects 2010-2016 were published in June 2011. They are based on the national projection published by the Federal Planning Bureau in May 2011. The Regional projections cover the following areas: macroeconomic and sectoral developments, the job market, household income accounts, public finance and greenhouse gas emissions.

 

 

Regional Economic Prospects 2009-2015

The Regional Economic Prospects 2009-2015 were published in July 2010. They are based on the national projection published by the National Planning Bureau in May 2010. For these outlooks, two new modules were to the HERMREG model along with existing modules (macroeconomic and sectoral developments, the job market, greenhouse gas emissions). One new module makes it possible to project public finance in the Regions and Communities, and the other to project Regional household income accounts.

 

 

Regional Economic Prospects 2008-2014

This Regional projection, issued in July 2009, is based on the national projection published by the Federal Planning Bureau in May 2009.

 

 

Regional Economic Prospects 2007-2013

The regional projections were updated after the publication by the Federal Planning Bureau of its "Economic Prospects 2008-2013" in May 2008. They give five year projections of financial activity, the job market and greenhouse gas emissions.

 

 

25 Years of Regional Developments

An insight based on the data in the HERMREG model 

To use the HERMREG model, it was necessary to constitute relatively long regional sectoral statistical series. As Regional accounts only started in 1995, retropolations back to 1980 were made for a number of macroeconomic and sectoral aggregates. In addition to providing data for the projection model, this consistent unpublished database made it possible to make a comparative analysis of the main regional macroeconomic developments since 1980.

 

 

Regional Economic Prospects 2007-2012

This report analyses the regionalisation of projections for the period 2007-2012.