Dutch yacht builders are losing revenue because of the Western sanctions against Russia, and restrictions on several wealthy Russians who cannot enter European naval space. Shipbuilders in the Netherlands are losing several hundred millions in sales, reports FD.
Companies can help stimulate the economy by increasing worker wages well above the current low rate of inflation, said Klaas Knot, President of the Dutch Central Bank. An improvement in purchasing power is the best way for the Dutch economy to move forward, he said at the International Monetary Fund meeting on Friday.
Ruling Dutch party VVD is continuing to poll stronger after a tough election night where the conservative party lost 23 provincial council seats. The election night loss is expected to lead to three lost senate seats for the VVD.
FrieslandCampina is reporting a hit to its operating profit of 80 million euros stemming from the Russian boycott on European dairy products. This works out to approximately 16 percent of the company’s 2014 operating profit, as reported on their website.
Profits of the insurer Achmea decreased drastically over the previous year, reaching the level of 16 million euros, reports De Telegraaf. The contraction is dramatic compared to 2013 when Achmea accumulated over 120 million euros in profits over the first two quarters en route to a 344 million euro profit for the year.
The horeca (Dutch abbreviation for Hotel/Restaurant/Café) sector showed a higher growth in the last quarter of 2014 as compared to previous years, according to Statistics Netherlands (CBS). Over the course of 2014, the industry grew by 5.6 percent, which is the largest output expansion in hospitality since the pre-crisis period ending with 2007.
Minister Jet Bussemaker (Education) has made 75 million euros available for vocational schools to focus more on specialized professions such as a piano technician, prosthetic technician or shoe repairer. She made this announcement in a letter to the Tweede Kamer (lower house of parliament) today.
An extra 17.8 million euros will be made available for the ongoing actions aimed at fighting youth unemployment in the Netherlands.
Consumer confidence has barely changed between January and February 2015, despite December 2014 yielding about a 0.5 percent increase on goods and services spending from the same month the previous year, reported Statistics Netherlands (CBS) reported on Friday.
The prices of existing private homes sold in the Netherlands were 2.1 percent higher in January 2015 than in the same month last year, Statistics Netherlands (CBS) reported Friday. The average price of existing homes in January 2015 was about as high as in mid-2003.
The Dutch economy is continuing signs of recovery, posting growth of 0.5 percent in the last quarter of 2014, according to official bureau Statistics Netherlands (CBS). This is now the third consecutive quarter where growth has been measured, the CBS reported on Friday.
Inflation in the Netherlands decreased to the lowest level in 27 years in January, with the average price increase coming out at exactly 0 percent. The average interest rate also decreased to 0.5 percent in January (0.8 percent in December 2014), the lowest since the start of De Nederlandsche Bank's (DNB) time series in mid 1986.
Dutch Prime Minister Mark Rutte said it would be very strange if Greece chose to exit the eurozone, and dropped their policy measures meant to get the country’s finances in shape. Calling the proposition “bizarre,” he refused to speculate on a possible Grexit, saying only, “I assume that is not going to happen.”
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.
More parents are having a difficult time covering costs connected to their children’s education, a nonprofit organization says. A thirty percent increase in parents applying for financial assistance to cover school cash contributions was reported by Leergeld, an organisation that helps parents cover the supposedly voluntary costs.
Dutch people are optimistic and positive about the new year. They enter 2015 much less concerned about the economic crisis compared to last year. This is according to a study published by the Social and Cultural Planning Office (SCP).
The Dutch economy will be slightly better than expected in 2015. The gross domestic product (GDP) is expected to grow by 1.5 percent. That is a slightly higher growth than the 1.25 percent that was expected in previous calculations.
Over four thousand needy children who would have otherwise gotten no gifts this winter holiday, received gifts from the Sinterklaasbank this week. Elisa Nuij, founder of the Sinterklaasbank, says the amount of families who needed the help of her organization this year has grown considerably, up from 2500 children last year, and 1500 the year before.
The Ducth economy will grow by 1.5 percent in 2015, twice as fast as in 2014. There is however no reason for exuberant optimism, say economist of Rabobank in their Vision of 2015.
The industrial sectors in the Netherlands can expect to see growth in investments of about 15 percent in 2015, official government agency Statistics Netherlands (CBS) reported Monday. Investment is expected to climb even higher for chemical product manufacturers and refineries, which are expected to see an increase of 23 percent to a total of two billion euros.
According to Statistics Netherlands, consumers spent 0.6 percent less on goods and services in September than in the same month last year. Consumer confidence deteriorated in November, especially regarding the economy.
Many people are considering emigration because of the economy. Especially young people think that they will find a better financial future abroad.
The first budget of the city management of D66, VVD and SP was adopted by the Amsterdam city council last night.