10 billion lost in recession

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The last four quarters of the recession cost the Dutch an average of 1300 euros per head. The entire Dutch economy suffered a loss of 10 billion euros, compared to a period of zero growth.

The Dutch felt the recession in different ways. Some saw their retirement compromised, others lost their jobs, and yet others were hit hard by tax increases.

The Central Bureau of Statistics announced Thursday The Netherlands is officially out of recession and the economy grew by 0.1 percent in the third quarter. That adds up to a total of about 150 million. Before the crisis, the economy grew by about 1.5 percent each year.

The crisis really hit in the third quarter of 2008. Without the crisis Netherlands would now be 90 billion euros richer, which amounts to 5400 euros per head.

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