Wednesday, December 14, 2011

The Netherlands in Economic Recession

The Central Planning Bureau (CPB) has announced that the Netherlands is in an economic recession. The current quarter will be the second consecutive one where there is economic shrinkage. For the first two quarters of 2012, shrinkage is also forecast to amount in total to 0.5%. The budget deficit next year is expected to be 4.1%. In September, the forecast for this figure was 2.9%. The CPB expects that 475,000 people will be unemployed, which is 90,000 more than in 2011.

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