Dutch economic growth revised up, budget deficit grows

25th September 2014, Comments 0 comments

The Dutch economy grew by 0.7 percent in the second quarter of 2014, compared with the first, the national statistics office CBS said on Wednesday.

In August, the CBS put the growth figure at 0.5 percent, quarter on quarter.

The upward revision is due to higher estimates for consumer spending and more investment by industry.

Year on year, the Dutch economy grew by 1.1 percent, not 0.9 percent as the CBS said earlier.

Nevertheless, the government's deficit has increased sharply compared with 2013.

Lower income and higher spending pushed the state debt to EUR 9.4 billion.

This means the national debt was around 3 percent of GDP by July, the maximum permitted under eurozone regulations, the CBS said.

Definitive figures will be published at the end of March next year.

 

© DutchNews.nl

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