Cabinet set to pump €50 billion into Dutch economy

The Dutch government plans to set up a fund containing billions of euros as a buffer to guarantee economic growth in the Netherlands, the Telegraaf reports based on sources. The amount to go in this fund has not yet been decided, but according to the newspaper, the amount of 50 billion euros is circulating on the Binnenhof.

The fund was the idea of Minister Wopke Hoekstra of Finance and was set to be announced on Budget Day next month. The idea is that the fund will help avoid any economic setbacks. According to the plans, the money will be used for large, future investments on things like infrastructure and scientific research.

In order to establish this fund, the government will have to take out a substantial loan. But given the currently historically low interest rates, it is seen as a reasonable option, according to the newspaper.

According to RTL Nieuws, the government also wants to focus on the development of artificial intelligence. The coalition believes that this technology will create many new jobs and focusing on it will ensure that the Netherlands does not fall behind other countries in the future.