Kingdom of the Netherlands—the Netherlands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands—the Netherlands PDF Download
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Author: International Monetary Publisher: International Monetary Fund ISBN: 1589068734 Category : Business & Economics Languages : en Pages : 61
Book Description
The Dutch economy was more resilient than the average Euro area economy in 2020 owing in part to a high rate of digitalization of activities that allowed a large share of the work force to work remotely, while the strong policy response mitigated the impact of containment measures. A strong recovery is underway, with pre-pandemic GDP level to be exceeded in 2021:Q4, and the labor market has tightened considerably. The economy is forecast to grow by 4.0 percent in 2021 and 3.3 percent in 2022, on the back of strong consumption and investment, supported by increasing coverage of vaccines. Near-term risks to the outlook are roughly balanced, driven by the uncertain trajectory of the pandemic on the downside, while a fuller than expected drawdown of savings accumulated in the pandemic would further support domestic demand and growth. Further out, real estate market developments present additional risks.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1589068734 Category : Business & Economics Languages : en Pages : 61
Book Description
The Dutch economy was more resilient than the average Euro area economy in 2020 owing in part to a high rate of digitalization of activities that allowed a large share of the work force to work remotely, while the strong policy response mitigated the impact of containment measures. A strong recovery is underway, with pre-pandemic GDP level to be exceeded in 2021:Q4, and the labor market has tightened considerably. The economy is forecast to grow by 4.0 percent in 2021 and 3.3 percent in 2022, on the back of strong consumption and investment, supported by increasing coverage of vaccines. Near-term risks to the outlook are roughly balanced, driven by the uncertain trajectory of the pandemic on the downside, while a fuller than expected drawdown of savings accumulated in the pandemic would further support domestic demand and growth. Further out, real estate market developments present additional risks.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1484398513 Category : Business & Economics Languages : en Pages : 52
Book Description
This Article IV Consultation highlights that the Dutch economy has grown faster than the euro area average over the past few years reflecting recovering consumption and investment, and strong net exports. Progress with tackling long-standing imbalances in the households and corporate sectors, and thus external imbalances, has lagged. Households remain highly leveraged and their consumption constrained by a stagnating disposable income. In the corporate sector, dominated by large multinational corporations, investment is low but savings are high, and developments are diverging with domestic small and medium enterprises relatively stagnant. Strong fiscal performance in recent years has boosted buffers that can now be used to reduce distortions and strengthen potential growth. The report recommends that it is important to harmonize tax benefits and social security contributions for different types of employment to reduce labor market duality while increasing overall labor market flexibility. Using fiscal space to address household and corporate imbalances is desirable and is unlikely to jeopardize long-term fiscal sustainability.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 76
Book Description
The Dutch economy was more resilient than its peers during and after the pandemic. Reflecting the prevalence of telecommuting and strong fiscal support, the economy experienced a less severe recession followed by a more robust recovery than in the rest of the euro area, with no scarring expected. The labor market is tight with a low unemployment rate and high vacancies, although wage growth has so far been moderate. After hitting a record high in September, consumer price inflation eased to 11 percent in December driven by lower energy prices, while core inflation increased to 8.4 percent y/y. The economy appears to be overheating. The war in Ukraine is posing new challenges albeit the terms of trade shock has been smaller than for the rest of the euro area.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1498316697 Category : Business & Economics Languages : en Pages : 52
Book Description
This paper presents the overview of the Dutch economy. After a double-dip recession that ended in early 2014, a strengthening but moderate recovery led by exports and investment is underway, although lower production and exports of natural reduced gas reduced growth in the second quarter of 2015, without however interrupting its momentum. Unemployment is falling slowly and inflation is low, but positive. Credit has continued to decline, but demand for credit is gradually rebounding. The Dutch banking system is emerging from its restructuring. The economy now appears set on a gradual path of recovery, and growth is expected to reach 1.9 percent this year and in 2015, supported by an improving domestic demand.
Author: International Monetary Fund. European Dept. Publisher: International Monetary Fund ISBN: 1484357825 Category : Business & Economics Languages : en Pages : 59
Book Description
Four years after exiting a double dip recession, the economic recovery has taken hold, driven by robust domestic demand against the backdrop of increasing house prices. Net exports have also proven resilient to global uncertainties so far, pushing up the already large current account surplus. The pickup in economic activity has resulted in a marked decrease in the unemployment rate. In this context, the coalition agreement, adopted in late 2017 by the new government following general elections earlier on that year, lays out a broad-based fiscal expansion and an ambitious structural reform agenda aimed at strengthening the macroprudential toolkit, reducing duality on the labor market, and overhauling the second pillar of the pension system over the next four years.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451829566 Category : Business & Economics Languages : en Pages : 52
Book Description
The 2007 Article IV Consultation with the Kingdom of the Netherlands explains fiscal policy and financial sector issues. Improvements in the macroeconomic and business environments and technological innovation have contributed positively to Dutch competitiveness. Executive Directors emphasized that continued improvement in the underlying fiscal position requires tight spending control. They recommended that the authorities implement offsetting expenditure-reducing measures. They also commended the risk-oriented, cross-sectoral approach to financial sector supervision, pointing out that, in many respects, the design and implementation of supervision in the Netherlands are international best practice.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 145528663X Category : Business & Economics Languages : en Pages : 72
Book Description
In this study, the stability of the economy of the Netherlands is overviewed. Bank profitability has recovered. The housing and mortgage markets are relatively stable, although vulnerabilities to household balance sheets are rising. The results of stress tests in the context of the Financial Stability Assessment Program (FSAP) update are welcomed, which show resilience of bank capital and liquidity buffers under extreme scenarios. Executive Directors agreed that structural reforms continue to be key to lifting the Netherlands’s long-term growth prospects. Further reforms of the tax and benefit systems are needed.
Author: International Monetary
Author: International Monetary
Author: International Monetary Fund. European Dept.
Author: International Monetary Fund. European Dept.
Author: International Monetary Fund. European Dept.
Author: Juha Kähkönen
Author: International Monetary Fund. European Dept.
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Author: International Monetary Fund
Author: International Monetary Fund