The Dutch economy is set to grow by 3.3% in 2017 and 2.5, Dutch king Willem-Alexander announced during the countries’ annual budget day, known as Prinsjesdag, which opens parliamentary proceedings for the next legislative year.
Both the budget and levels of government debt are in line with EU requirements while the labour market is showing initial signs of shortages, according to the latest figures compiled by the Dutch bureau for economic analysis, CPB. Despite positive GDP growth levels, the purchasing power of average Dutch house holds remains modest, increasing by 0.3% in 2017 and 0.6% next year.
Unlike usually, no major policy announcements were made, since the Netherlands has held its parliamentary elections in March this year and is awaiting the new government coalition to take office.
The new government will again be led by the conservative liberal party VVD and incumbent prime minister Mark Rutte, however, the exact nature of the coalition is yet to be confirmed. The major political parties have sutained major losses during the last election and only a coalition of four parties would secure a working majority for the Rutte government.