Public sector deficit to rise sharply in the coming years
The general government budget deficit is still limited to 0.9% of GDP in 2023. However, this situation will deteriorate rapidly in the years ahead, partly because more interest has to be paid on government debt. The deficit will then increase towards the EU threshold of 3%.
Unemployment rises somewhat
Unemployment remains low at 3.6% in 2023, but rises to 4% in 2024. Wages rise sharply, by 5.9% in 2023 and 5.7% in 2024.
Our Spring and Autumn Projections
DNB issues projections for the Dutch economy over the current and the next two years. We develop them together with the European Central Bank (ECB) and other central banks in the euro area. The ECB aggregates national projections into macroeconomic projections for the euro area as a whole. This is how we contribute to the ECB’s decision-making on monetary policy. And every six months we present our national projections and analyses in the Spring and Autumn Projections. Based on our projections and analyses, we provide advice on economic issues to the government and other policymakers. Our Spring and Autumn Projections and our studies provide insight into the basis of our advice.