The outbreak of the coronavirus will almost certainly result in a recession for the Dutch economy, according to Pieter Hasekamp, director of central planning office CPB. "We are still calculating, but a recession is almost inevitable," he said in an interview with the Telegraaf.
The Dutch economy is expected to grow by 1.4 percent this year and 1.6 percent next year, according to the latest estimations by central planning office CPB. The expected growth is slightly higher than previous estimations in December. The CPB warned that the effects of the coronavirus outbreak on the economy are still very uncertain, but the virus will negatively impact economic growth if it is not quickly gotten under control.
The aging population of the Netherlands will result in the average growth of the Dutch economy falling to 1.1 percent between 2022 and 2025, central planning office CPB said in an estimate on Monday.
In the period 2022 to 2025, the population aged between 15 and 74 will decrease for the first time, the CPB expects. That will mean fewer and fewer new people entering the labor market, which will put economic growth under pressure. Purchasing power will also stop increasing in that period, according to the CPB.
Parenthood remains one of the biggest causes of the wage gap between men and women. The average income of women falls sharply after the birth of their first child, while becoming a dad has a very limited effect on men's income, central planning office CPB said in a report on Thursday. CPB calls this the 'child penalty', NU.nl reports.
Dutch employees can look forward to higher-than-expected wage increases next year, according to calculations from employers' association AWVN based on the collective bargaining agreements that have already been reached, Financieele Dagblad reports.
Central planning office CPB expected a wage increase in the market sector of 2.5 percent next year. But based on the multi-year collective bargaining agreements already reached in the market sector, AWVN calculates a wage increase of 3.3 percent for next year.
International students bring considerably more money into the Dutch economy than they cost it, according to a study by central planning office CPB. Foreign students from non-European Union countries in particular generate a lot of money for the Dutch treasury, NU.nl reports.
Economic growth in the Netherlands will decline to 1.4 percent growth next year, according to the August Estimation by central planning office CPB. The declining growth is due to "bad wind from abroad", the CPB said, NU.nl reports.
The income gap between Dutch people with an immigrant background and so-called "native" Dutch is not decreasing significantly, central planning office CPB said in a report on Wednesday. The planning office partly attributes the wage gap to differences in education level, differences in types of jobs, and discrimination on the labor market.
Prime Minister Mark Rutte delayed the publication of the planning offices' climate agreement calculations until after Budget Day, because he thought a debate about the climate would be "undesirable" at this point, Nieuwsuur reports based on documents it received by appealing to the Government Information Act. Opposition parties in parliament are outraged and want a quick explanation from Rutte about the pressure he exerted on the planning offices to delay this publication, NOS reports.
The Dutch government wants to reduce the energy costs for citizens and let the industry pay more for the Netherlands' climate plans, Prime Minister Mark Rutte said in a response to the Netherlands' environmental assessment agency PBL and central planning office CPB's calculations of the climate agreement. This will involve less energy taxes on citizens, and a CO2 tax on companies, NOS reports
The agreements made in the climate agreement will likely not achieve the Netherlands' goal of reducing its CO2 emissions by 48.7 megatons in 2030 compared to 1990. The Industry in particular is not providing enough CO2 reductions, were the main conclusions of the Netherlands' environmental assessment agency PBL and the Netherlands' central planning office CPB's calculations of the agreement, NU.nl reports.
The purchasing power increase that the central planning office CPB calculated for this year remains the same, despite a higher energy bill. 96 percent of all Dutch households will see their purchasing power increase, by an average of 1.6 percent this year and 1.3 percent next year. The increase is mainly due to higher wages, CPB said in a new estimate published on Tuesday, NU.nl reports.
The Dutch economy will continue to grow, but not as strongly as in the past years, according to new estimates by the Netherlands bureau for economic policy analysis CPB. Despite this, the Dutch economy continues to grow faster than the average in the euro zone, ANP reports.
There is no question of displacement on the Dutch labor market between older people and young people or between highly educated and low-educated people, and displacement by migrant workers is rare, according to a study by social and cultural planning office SCP and the Dutch bureau for economic policy analysis CPB, NOS reports.
The three large Dutch banks - ING, ABN Amro and Rabobank - are largely dependent on only one company for cyber security against DDoS attacks. The cyber security firm in question is the American company Akamai, which counts 18 of the world's 30 largest banks as its customers, Financieele Dagblad reports.
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.
By now everyone is aware of the risks involved in investing in cryptocurrencies with their wildly fluctuating prices. But the real risks may only appear should cryptocurrencies' prices start stabilizing, according to the Netherlands office for economic policy analysis CPB. In the worst case scenario, this could lead to another global financial crisis, the CPB wrote in its annual report on the risks for the financial markets, RTL Z reports.
The job opportunities for refugees can increase if more account is taken of their situation, according to central planning office CPB. For example, the region in which a refugee is placed plays a big role on whether or not the refugee will find a job. The chance that a refugee has a job 10 years after being placed in a favorable region is almost 1.5 times greater than if he or she was placed in an unfavorable region, according to CPB, NU.nl reports.
The Dutch economy will continue to grow strongly this year and next year, according to expectations announced by the Netherlands office for economic policy analysis CPB on Tuesday. Next year unemployment will drop to its lowest level since 2001, NU.nl reports.
Single income families are falling behind in the Netherlands. Over the past years single-income homes paid relatively more tax than two-income households and that gap is only going to keep increasing, the Dutch office for economic policy analysis CPB said in a new report to the government. Single income households with children in particular pay more tax than similar two income households, RTL Nieuws reports.
The Dutch economy will grow by 3.1 percent next year, according to the Netherlands central planning office for economic policy CPB. "Such growth percentages have not occurred since 2007", CPB said, NU.nl reports. "Because of the persistently high growth, there will be a boom in the coming year."
Employers in technology, healthcare and education will have an increasingly difficult task filling vacancies in the coming years, according to the University of Maastricht's research center for education and labor market RAO. Over the next five years, the number of jobs in the Netherlands is expected to grow by 520 thousand, with the largest number of vacancies expected to be in technology and healthcare, according to the researchers, NOS reports.
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.
Negotiators for the VVD, CDA, D66 and ChristenUnie seemed carefully optimistic that the government formation talks will come to a good conclusion when they pick up again after the summer break. There is good hope, mediator Gerrit Zalm said after the negotiators parted ways for a two week long break on Wednesday, AD reports.