Government deficit 2.3 percent – ‘economy climbs gently from valley’ – nrc.nl

Photo: Reuters / Lex van Lieshout

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The general government deficit in the Netherlands last year amounted to 2.3 percent of gross domestic product (GDP) . It reports the Central Bureau of Statistics (CBS). According to CBS, there seems to be an end to a long period of economic downturn.

Government deficit 15 billion

The government deficit in 2014 amounted to 15 billion euros. This was more than 0.4 billion euros a year earlier. Still, the deficit remained unchanged at 2.3 percent, because GDP grew proportionately. An earlier estimate of the budget deficit in 2014 by CBS came even from 1.8 percent.

This is the second consecutive year that the deficit remains below the European limit of 3 percent. Last year was the first time in five years that the Netherlands remained below 3 percent.

Today’s figures are the first official estimate of the government deficit and debt, and today sent to the European Commission.

Recession in Netherlands persistent than in neighboring countries

“The Dutch economy climbs gently in 2014 from the valley,” Director General of the CBS Tjin-A-Tsoi writes in the preface to the Today’s report Netherlands in 2014:

“The activity, exports and employment growth and the housing market is recovering. With the still fragile recovery seems an exceptionally long period of economic downturn to have come to an end. “

Positive signals

The recession that began after the fall of US investment bank Lehman Brothers in 2008 in the Netherlands more persistent than in many neighboring countries, the report said. But it seems that we have now closed this period. CBS reports “several positive signs”:

• The growth in the Netherlands in 2014 was supported not only by exports, but also by the consumption and investment
• . Oil prices have dropped, which is good for consumers and producers.
• The euro has fallen sharply in value, which is an incentive for further export growth.
• The interest rate on government bonds is at a historically low level, so decrease the interest costs of the government.
• The confidence of both consumers and producers has increased.
• There were first born more children in years.

Earlier today, CBS announced that all consumers in January 1.8 percent spent more on goods and services than in the same period last year. That is the largest increase in four years

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