Central Bank: Dutch Economy to Shrink Further Next Year

The Dutch Central Bank expects the Dutch economy to shrink by 0.6% next year. This follows an estimated decline in the economy in 2012 of 1%.

Unemployment, which at present is 5.2%, is likely to increase to 6.2% of the professional population in 2013 and to 6.7% in 2014. The budget deficit is likely to be 3.5% in both 2013 and 2014. That is above the European maximum norm of 3%. The bank considers that the government will have to introduce further budget cuts beyond the large ones already planned.
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