The coronavirus will definitely cause a recession in the Netherlands, according to a report central planning office CPB released on Thursday. The CPB calculated four scenarios depending on how long the measures to curb the spread of Covid-19 will remain in place, and all four scenarios resulted in a recession. In the best case scenario, the Dutch economy will shrink 1.2 percent this year, in the worst case it will shrink 7.7 percent. In three of the four scenarios, the shrink will be greater than in the 2008/2009 financial crisis, CPB said.
The Netherlands is emerging from the crisis stronger. Things are going better than expected, but still not good enough, according to Finance Minister Jeroen Dijsselbloem while presenting the Budget Memorandum to the Tweede Kamer, lower house of parliament. As per tradition, Dijsselbloem presented the Budget in the same briefcase his predecessor Lieftinck used to present the budget in 1946 after World War II. Dijsselbloem called the briefcase "a small symbol of recovery".
The Netherlands is back among the economic leaders in Europe, but we must stay sober. The better figures does not mean that everyone in the Netherlands is profiting. Unrest abroad also has consequences for the Netherlands. The Netherlands has to prepare for the arrival of more refugees. Keep track. The plan for next year is that employment, purchasing power and growth reach more people.