Dutch companies have relatively lower debts than other Western companies, meaning they are better poised to take advantage of the economic recovery, according to a new report by advisory group McKinsey, quoted in the Financieeele Dagblad.

The researchers studied the debt position of companies in 11 mature economies and also looked at historical data to assess when having high debts caused problems.
The paper says Dutch companies, with the exception of financial institutions, cut their debts considerably in the years running up to the crisis. Only Swiss firms have fewer debts, the paper says.
‘This is good for the Netherlands, particularly in the light of the current crisis,’ researcher Charles Roxburgh told the paper. ‘We can forget governments and consumers as possible engines of growth. Companies will have to drive the recovery. Luckily, they have a lot of fire power and are beginning to invest.’
The Dutch national debt is also low compared with other countries, the report shows. However, consumer debts are relatively high. The researchers said this will not be a problem as long as house prices retain their value.