Forecast: Government Expenditure on Military Defence by Government Level in Belgium

Over the past decade, Belgium's government expenditure on military defense as a unit of GDP has exhibited a downward trend until 2017, stabilizing and then experiencing an uptick back to 0.9 percent from 2020 to 2023. Notable year-on-year variations include a significant decrease in 2017 by 12.5 percent and an increase in 2019 by 14.29 percent. The Compound Annual Growth Rate (CAGR) over the last five years leading to 2023 is 5.15 percent.

For the forecast period from 2024 to 2028, the value is expected to remain constant at 0.9 percent of GDP, indicating no anticipated growth or reduction, as suggested by a zero percent forecasted CAGR and growth rate.

Key trends to monitor moving forward:

• Geopolitical tensions and their impact on defense funding allocations.
• Potential shifts in national defense policies influenced by international security environments.
• Economic fluctuations affecting the overall budget resources available for military expenditure.