Central Planning Bureau: Economy will Shrink 3.5%

The Central Planning Bureau (CPB) has announced that the Dutch economy is expected to shrink by an unprecedented 3.5% in 2009. Unemployment will increase from 4.9% to 5.5% (425,000 people). In December the CPB had forecast a decline of 0.75%. For 2010 the Central Planning Bureau foresees unemployment at 8.75% (675,000 people). The CPB expects the budget deficit to increase to 3% of GNP in 2009 and 5.5% in 2010.
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