Following a historical contraction in gross domestic product (GDP) in 2020, the Dutch economy should recover strongly and rapidly, starting in the second quarter of 2021. This is projected to result in a GDP growth rate of 3.0% in 2021. Robust recovery is projected to continue into 2022, posting...
Current economic issues
De Nederlandsche Bank is committed to a robust and well-functioning economy, that is accessible to all and in which everyone is able to participate. This is in the interest of all Dutch people. Because it is about our work, homes, savings and pensions. A strong financial sector is also essential. The current global crisis caused by the coronavirus pandemic has made this clear. The buffers that the government, financial institutions and businesses have built up in recent years help to absorb shocks. Together with other authorities at home and abroad, we closely monitor the situation, taking action where needed to minimise economic fallout.
The coronavirus crisis, the pension system, the labour market and the housing market; there are challenges in all these areas. And we want to contribute to long-term solutions. As an independent advisory body, we clearly indicate the possibilities and the consequences of certain choices. And others can make decisions based on this advice.
More than a year after the outbreak of the coronavirus crisis, vaccination campaigns are picking up speed, and the virus appears to be coming under control. The end of the economic crisis therefore seems near. The outlook for the Dutch economy is favourable.
We have taken the atypical step of releasing interim projections, between our regular December and June projections. In his economics blog, Olaf Sleijpen explains: “Our economy shows not only adaptability but also resilience.”