Dutch economy to recover slowly

De Nederlandsche Bank (DNB) said the Dutch economy will improve slowly over the next two years. Economy / Flickr The Dutch economy would grow by 0.5% in 2014 and by 0.9% the following year. Growth will reach 4.5% in 2015, Reuters reports. The central bank said the Dutch government will need to further reduce tax benefits to bring the budget deficit below the European Union ceiling by 2015. "The economic recovery has taken its time in coming and will be limited in scale... because households, banks, pension funds and the government will be busy repairing their battered balance sheets," the bank said in its semi-annual outlook. The European Commission (EC) projects the Dutch budget deficit at 3.3% in 2013 and in 2014 and at 3.0% in 2015.