Christine Lagarde, who will soon be president of the European Central Bank (ECB), lashed out at euro countries like the Netherlands and Germany for not spending their budget surplus to stimulate the European economy. "Why not use that budget surplus and invest in infrastructure? Why not invest in education and why not invest in innovation?" she said, according to NU.nl.
Any money left over in the government's budget should first be spent on raising the salaries of people in the public sector, addressing the housing shortage and getting more police officers on the street, according to a poll conducted by Ipsos on behalf of NOS for Budget Day 2019. Only once all that is done, should budget surpluses be used to pay off State debt, the respondents said.
The Dutch economy will continue growing this year and next year, though a bit slower than expected, central planning office CPB said on Thursday. The CPB expects 2.8 percent growth in 2018 and 2.6 percent in 2019, instead of 2.9 percent and 2.7 percent as the office expected in June, NU.nl reports.
Last year the Netherlands' national debt decreased by 18 billion euros, from 434 billion euros to 416 billion euros, according to the central government's annual report that was released on Wednesday. That comes down to 56.7 percent of the Netherlands gross domestic product.
With that the Netherlands closed a year with a national debt that complies with European rules for the first time since the outbreak of the financial crisis. According to European rules, a country's national debt must remain below 60 percent of GDP.
On Tuesday King Willem-Alexander opened the Netherlands' parliamentary year with his traditional Budget Day speech. He talked about the devastation Hurricane Irma left of the Caribbean islands that form part of the Dutch Kingdom, terrorism around the world, the prosecution of those responsible for the MH17 disaster, and making sure that everyone in the Netherlands benefits from the improving economy, among other things.
Today is the last Budget Day for the departing Rutte II cabinet. In tradition and ceremony, the day is expected to look like every other Budget Day, with politicians decked out in fancy hats, the Royals arriving at the Ridderzaal in The Hague in a carriage and the famous balcony scene after the throne speech. But given the current VVD and PvdA government's departing status, no big news is expected in the budget. Big changes are left up to the new government.
The Dutch economy continues to grow steadily and its growth is expected to reach 3.3 percent this year, according to planning office CPB's estimate in its Macro Economic Exploration, which was published on Wednesday. If this estimate holds true, this will be the first time the Dutch economy grows by more than 3 percent since the outbreak of the economic crisis in 2007. In 2018 the gross domestic product is expected to grow by 2.5 percent, NU.nl reports.
Last year Dutch municipalities spent less money than they received for the first time since 1999, Statistics Netherlands revealed on Monday. The municipalities' total revenues amounted to 53.8 billion euros, and spending came down to 53.6 billion euros, NU.nl reports.
The Dutch economy will grow by 2.4 percent this year and 2 percent next year, central planning office CPB expects in its latest estimation. In the previous estimation in March, the CPB expected 2.1 percent and 1.8 percent growth for 2017 and 2018 respectively, ANP reports.
Unemployment is expected to continue its decline, to 4.9 percent this year and 4.7 percent next year. The government finances also look healthy, with a surplus of 0.5 percent expected for this year and 0,7 percent for next year.
A massive financial setback means that the Nethrelands is now facing a 1 billion euros budget deficit, instead of the previously declared 3.5 billion euros surplus, sources in The Hague told NOS.
According to NOS, healthcare and education did less well financiallly than expected. There were also financial setbacks in other areas.
The spring budget report will be discussed in the Council of Ministers today. More details are expected to be announced after the debate.
The Dutch government debt was 32 billion euros lower than expected at the end of 2016, according to the Annual Financial Report Finance Minister Jeroen Dijsselbloem presented to the senate and lower house of parliament on Wednesday, ANP reports.
The European economy is continuing its steady growth, and for the first time in a long time all EU countries saw economic growth. The European Commission expects that the EU economy will grow by 1.7 percent this year and 1.8 percent in 2018. The Netherlands is outperforming the EU average with expected economic growth of 2.1 percent this year and 1.8 percent in 2018, the Volkskrant reports.
In the coming years the Dutch economy will continue to grow and the government will again have billions of euros in budget surplus, but the growth in purchasing power will slow, according to the Dutch central planning office CPB's latest estimate, NOS reports.
After years of a budget deficit, the Dutch government managed to achieve a budget surplus in 2016. And that surplus is even 14 times larger than previously expected - a massive 2.9 billion euros, according to Statistics Netherlands on Friday. The Dutch economy also gew more than expected in previous estimations, RTL Nieuws reports.
Thanks to higher than expected revenue and lower than expected spending, the Dutch government is left with a 200 million euros surplus on the 2016 budget, Minister Jeroen Dijsselbloem of Finance said in a letter to parliament on Thursday, ANP reports.
The surplus can almost entirely be attributed to the total tax and premium revenue of last year, which came out 3.1 billion euros higher than projected. Expenses were 0.2 billion euros lower. In the Autumn calculations the government still expected a budget deficit of 3.1 billion euros.
Dutch central bank DNB expects the Dutch economy to grow by 2.3 percent this year, according to an estimate the bank published on Monday. This is a much higher growth than the 1.9 percent growth expected in the bank's previous estimate published in June last year, ANP reports.
For next year DNB expects economic growth of 1.7 percent, lower than the 2 percent growth expected in the previous estimate. In 2015 and 2016 the Dutch economy grew by 2 and 2.1 percent respectively.
The Netherlands had a budget surplus of 0.5 percent of the gross domestic product in the second quarter of this year, Statistics Netherlands reported on Monday based on seasonally adjusted figures for the second quarter of 2016.
The municipality of Amsterdam closed 2015 with a positive financial result of 27 million euros, according to the annual financial statements the mayor and aldermen presented on Wednesday. The municipality attributes the positive results partly to the improving economy and the city's growth