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Netherlands Economic Developments and Outlook - June 2022

Netherlands Economic Developments and Outlook - June 2022

The war in Ukraine is affecting the Dutch economy, which is reaching its capacity limits again after recovering from the COVID-19 recession. The shock of the war is driving energy prices higher, causing uncertainty and depressing the growth of world trade. Economic growth this year will still amount to 2.8%, mainly due to carry-over from 2021. From the end of 2022 GDP growth will pick up, with fiscal policy playing a supporting role. Projected GDP growth is set to exceed the potential (trend) growth rate in both 2023 (1.5%) and 2024 (1.7%). […]