Dutch stimulus package worth six billion euros

22nd November 2008, Comments 0 comments

The government is about to launch new measures to contain the effects of the financial crisis.

22 November 2008

THE HAGUE - The Dutch government has announced a series of financial, fiscal and social measures worth six billion euros to protect the economy against the effects of the credit crisis. 

Prime Minister Jan Peter Balkenende said the sum was the equivalent of one percent GDP.

A key element of the package is a series of fiscal measures aimed at improving companies' liquidity. 

The prime minister also promised that the government would pay firms faster, something he said was critical for small and medium-sized businesses. 

Another measure included in the package is a temporary reduction of working hours for firms facing problems. The exact details of this measure have yet to be worked out.

[Radio Netherlands / Expatica]

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