Budget rules can be relaxed: bank chief

The Dutch government’s tough rules on spending should be relaxed given today’s ‘extremely special circumstances’, central bank president Nout Wellink said on the tv programme Buitenhof on Sunday.

The minor coalition party ChristenUnie has already called for more flexibility in government spending, despite the fact the Netherlands will go into recession this year.
In the coalition agreement, the three governing parties agreed that the budget deficit should not be allowed to go above 2% by 2010.
But Wellink said that less rigidity was ‘desirable’ in the current economic climate. In particular, the economy could be boosted by bringing forward a number of infrastructure projects, Wellink was quoted by the NRC as saying.

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