Netherlands already in recession
The Bureau for Economic Policy Analysis says the Dutch economy is already in a recession. In its December Forecast published on Tuesday the Bureau predicts the Dutch economy will shrink by 0.5 percent in 2012.
The government’s budget deficit is expected to grow to 4.6 percent of GDP in 2011. Next year’s deficit is expected to be around 4.1 percent.
The new estimates show a clear deterioration compared to the estimates CPB published on Budget Day in September, when the Bureau still predicted a 4.2 percent deficit in 2011 and 2.9 percent in 2012.
© Radio Netherlands Worldwide