The Dutch governing coalition dissolved on 21 April after Freedom Party leader Geert Wilders walked out from negotiations over new austerity measures aimed at meeting European deficit limits. As a consequence, Prime Minister Mark Rutte tendered his cabinet's resignation on 23 April. The right-wing Freedom Party had backed Rutte's government for the past 18 months, but refused to reform the pension system in order to meet the European Union deficit requirements. The austerity plan aimed at cutting EUR 14 billion from the 2013 budget, and included a slight rise in the value added tax, a freeze on civil servants' wages and cuts to both the health and development budgets. The Dutch queen called elections on 12 September, leaving the country with a caretaker government for more than four months. Despite the deadlock, opposition lawmakers expressed their willingness to work with Rutte. The 2013 budget needs to be cut by at least EUR 9.5 billion in order to meet the 3.0% of GDP required by the Maastricht criteria. Caretaker Finance Minister Jan Kees de Jager insisted that he intends to present a draft budget to Brussels by 30 April, as part of the EU's fiscal surveillance of member states. The Dutch central planning bureau forecasts the fiscal deficit to reach 4.6% of GDP this year and next under current conditions.
Dutch government collapses on disagreement over budget cuts
April 24, 2012
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Netherlands Economic News
October 20, 2016
Dutch consumer sentiment rose markedly in October.
October 3, 2016
The NEVI Manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit and NEVI, decreased marginally from 53.5 in August to 53.4 in September.
September 29, 2016
The producer confidence indicator, which measures Dutch manufacturers’ sentiment, increased from August’s 1.2 to 3.4 in September, according to the Central Bureau of Statistics (CBS), thus moving further above the 0-point threshold that separates optimistic from pessimistic sentiment. According to the CBS, the improvement reflected that producers had become more positive regarding order books and future output over the next three months but less positive about their stocks of finished products.
September 23, 2016
Dutch economic growth held steady in the second quarter of the year on the back of robust fixed investment, while lackluster performance in the external sector and subdued household and government consumption dragged on the overall result.
September 20, 2016
Dutch consumer sentiment improved notably in September.