The budgets of these governments are quite strained by the ongoing phase-out of federal stimulus grants and the weakness of local tax collections. 4  BIS central bankers’ speeches  One area of the economy that has been performing relatively favorably is the trade sector.
The Bank requested the Belgian academic community to express its interest in participating in the joint research project by submitting a proposal concerning the content of an analysis on one or several sub-items of the general project, preferably with an empirical content making use of available panel data from firms’ balance sheets and other sources.