Business News

THE HAGUE,(MILLAT+APP/AFP): The Dutch economy has grown by 2.1
percent this year the government’s economic think tank said on Tuesday, thereby recovering to pre-financial crisis levels.
“With one quarter to go, 2016 has been a special year for economic
recovery,” The Hague-based Central Planning Office (CPB) said in a statement.
“Production per capita is back to 2008 levels following double dips
in 2009 and 2012-13,” the CPB said, adding that the last time Europe’s sixth-largest economy showed such growth after a sustained crisis period was back in the 1980s.
Unemployment also fell, from 6.9 percent to 6.0 percent, in 2016 with
a further dip to 5.3 percent predicted for next year — but remains well above the 4.0 percent unemployment figure of 2008.
The CPB said improved growth was mainly due to a rise in consumer
spending, with a thaw in the housing market — which has seen a price freeze for several years — having also stimulated spending.
It warned however that many uncertainties possibly affecting economic
growth remained for next year, including fears over Britain’s plans to leave
the EU and US economic policy under a Trump administration.
The Dutch economy took a serious blow in the aftermath of the 2008
global financial crisis and has seen several years of austerity-driven budgets by Prime Minister Mark Rutte’s Liberal-Labour coalition government.
But Rutte has recently been driving home the point that the economy
is improving — an important rallying point for the Dutch premier ahead of planned parliamentary polls in March next year.