Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Mild recession ends Dutch economy’s strong post-COVID boom

Mild recession ends Dutch economy’s strong post-COVID boom

AMSTERDAM (Reuters) -Economic growth in the Netherlands will be much slower than earlier expected this year, as a recession in the first half of 2023 ended a strong post-COVID 19 boom, government policy adviser CPB said on Thursday.

Growth is set to drop to 0.7% in 2023 and 1.4% in 2024, the CPB said, after hitting almost 5% per year in 2021 and 2022 during a strong recovery from the pandemic lockdowns.

The CPB in March had predicted an expansion of 1.6% in 2023 and 1.4% the year after.

The euro zone’s fifth largest economy entered a recession in the first half of the year, as it shrank 0.3% in the second quarter after a 0.4% contraction in the first three months of 2023.

The first recession since the pandemic is expected to be relatively mild, as unemployment is seen remaining at the current low level of around 4%, with wage rises on average offsetting rising food prices and energy bills next year.

Inflation, however, is expected to remain high throughout 2024 at almost 4%, which could push up the number of households living in poverty to 6% of the total population, the CPB said.

Additional government support could limit this increase, the policy adviser said, but rising interest rates and climbing costs for the energy transition and healthcare are putting a strain on the budget.

With unchanged policies the government deficit is seen rising from 2.4% of gross domestic product (GDP) to almost 4% by 2028.

(Reporting by Bart Meijer; Editing by Jacqueline Wong and Toby Chopra)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts