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Netherlands Economic Snapshot

Economic Survey of the Netherlands - 16 June 2021

Executive Summary

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Economic Forecast Summary (May 2021)

The Dutch economy is projected to grow by 2.7% in 2021 and 3.7% in 2022, reaching pre-crisis levels at the beginning of 2022. Consumption will drive the recovery as households normalise their saving after the sharp increase in 2020. Private investment will improve, but continue to be held back by lingering uncertainty. Bankruptcies are expected to rise and unemployment is set to peak in the second half of 2021 following the phasing out of support measures.

Reform Priorities (April 2021)

Going for Growth 2021 - Netherlands

The pandemic highlighted job insecurity of non-standard work contracts, which represent a considerable share of employment. To prevent a long-lasting impact on workers, the top policy priority should be to improve the targeting of active labour market policies. Increasing resilience and inclusiveness of the labour market will necessitate rebalancing the employment protection on various types of contracts in the longer term.

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2021 Structural Reform Priorities

  • Labour market: Strengthen ALMPs to provide workers with effective training and support their reallocation
  • Labour market: Reduce the use of temporary contracts and encourage the transition to permanent contracts
  • Housing: Support the supply of market rental housing
  • Tax system and housing: Reduce tax subsidies on owner-occupied housing
  • Environmental policy: Reduce exposure to air pollution

 

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