Dutch public deficit to hit 4.5%
The Netherland's public deficit will likely come in at 4.5 percent of gross domestic product (GDP) this year, higher than the planned 4.2 percent, Finance Minister Jan Kees de Jager said Tuesday.
The increase was due mostly to tax revenues coming in lower than expected and the minister also told parliament that the country's debt would likely rise to 65 percent of GDP.
The Netherlands, which is among the eurozone's fiscal hawks, had a public deficit of 5.1 percent last year.
EU members are supposed to keep their public deficits below 3.0 percent of GDP and public debt at under 60 percent.
© 2011 AFP