Tuesday, 20 August 2013 - 04:06
NL Will Not Attempt to Reach Target Budget Deficit
Finance Minister Jeroen Dijsselbloem said the Netherlands will not make an effort to keep up its budget deficit within the European Union (EU) limits in 2014.
The country is proposing a €6 billion budget reduction “to keep the budget deficit from running out of control next year,” Dijsselbloem said.
Finance Minister Jeroen Dijsselbloem in Ledendag 2010
Photo by Willem Pekel/Partij van de Arbeid/Flickr Prime Minister Mark Rutte’s ministry plans to close a deal on cost reductions and tax increases next year in a month's time, on top of a four-year, €16 billion-euro package agreed last year. Last week, the Central Planning Bureau said that without further steps, the deficit will expand to 3.9 percent of gross domestic product next year from 3 percent in 2013. The Netherlands’ financial system is currently facing its third recession since the economic crisis in 2008. CPB has forecasted the economy will regain growth in 2014. “The economy will definitely grow next year, I’m convinced of that,” Dijsselbloem said. Dijsselbloem is set to introduce the 2014 budget and extra budget plans not more than €6 billion on September 17.
Photo by Willem Pekel/Partij van de Arbeid/Flickr Prime Minister Mark Rutte’s ministry plans to close a deal on cost reductions and tax increases next year in a month's time, on top of a four-year, €16 billion-euro package agreed last year. Last week, the Central Planning Bureau said that without further steps, the deficit will expand to 3.9 percent of gross domestic product next year from 3 percent in 2013. The Netherlands’ financial system is currently facing its third recession since the economic crisis in 2008. CPB has forecasted the economy will regain growth in 2014. “The economy will definitely grow next year, I’m convinced of that,” Dijsselbloem said. Dijsselbloem is set to introduce the 2014 budget and extra budget plans not more than €6 billion on September 17.