The Dutch economy may book zero growth in 2009 and 2010, Dutch bank (DNB) director Henk Brower told a meeting of the social and economic council in The Hague on Friday afternoon.

‘Zero growth is more likely than a plus. And a minus cannot be ruled out, even for 2010, Brouwer was quoted as saying.
Brouwer told the meeting the economic crisis has now reached a phase where it is having a visible impact on the real economy, reports the Financiele Dagblad. He points in particular to the weak housing market in the US, the UK and Spain and to investment losses as affecting spending power and imports.
Growth forecasts for the Netherlands have gradually been downgraded over the past few months. In September the government’s economic planning unit CPB forecast growth of 1.25%. Then the International Monetary Fund said it would only reach 1%. Last week ING bank was forecasting just 0.8%.