Netherlands Economic Snapshot

Economic Survey of the Netherlands - 29 June 2023

The Dutch economy swiftly returned to its pre-pandemic growth path, but rapidly rising inflation started to weigh on growth, magnifying existing challenges, such as the urgency of the transition to net zero, ageing-related fiscal pressures, and pervasive labour shortages. Significant investments in low-carbon infrastructure and technologies are needed to reduce dependence on fossil fuels and exposure to global energy price fluctuations. Healthy public finances allowed for fiscal support to protect households and firms from surging energy prices, but population ageing will increase fiscal pressure going forward.

Executive Summary



Economic Forecast Summary (June 2023)

June 2023

Economic Outlook Note - Netherlands

Economic growth is projected to moderate to 0.9% in 2023 before picking up to 1.4% in 2024. Headline inflation is expected to fall to 2.2% in 2024 on the back of declining energy prices, but core inflation will remain elevated at 3.9%. Growth is supported by private consumption, aided by energy support measures and increases in benefits since the beginning of 2023.


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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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