The improving economy has led to better access to credit and financing for entrepreneurs. Last year 78 percent of credit applications were granted, either completely or partially, compared to 62 percent in 2013.
Rating agency Fitch reaffirmed the Netherlands AAA rating on Friday on signs the country’s economy is recovering. The agency predicts GDP growth of 1.2 percent for 2015.
The amount of people unable to pay their accounts on time keeps increasing. The Credit Registration Office (Bureau Krediet Registratie) has registered 19 thousand consumers with payment problems in the last six months.
Many households will not accept having to cut costs, favoring borrowing, and consequently debts, instead. By piling on the credit, these households are slowly slipping into the abyss of debt counseling. The number of risky debts grew with almost 20 percent in seven years' time.
The four biggest banks in the Netherlands have to introduce bigger financial buffers in the coming years in order to avoid collapse. The Dutch Bank (DNB) has told ABN Amro, ING Bank and Rabobank to build up a buffer of 3 percent and the SNS Bank to build up a buffer of 1 percent.
68 million euro of unused phone credit expires every month. That is on average 8 euros per person per month. The Dutch consumers union, de Consumentenbond, announced this on Tuesday. The union sent a petition to the government to change the expiry date of credit to a least a year after it was bought.