Economic growth to reach 1.75% this year, jobless total 4.25%

The economy will grow better than forecast this year, while the budget deficit and unemployment rate will go down more rapidly, according to new estimates from the government’s macro economic policy unit CPB.

The economy is set to grow 1.75% this year, up half a percentage point on last December’s estimate.
The budget deficit will fall to 3.6%, compared with an estimate of 4.2% in December and the jobless total will reduce to 4.25%, the CPB said.
But inflation is set to rise to around 2% this year, up 0.5% on the last estimate, forcing down average spending power.
Economic affairs minister Maxime Verhagen told news agency ANP the government would do all it could to boost employment levels. ‘Work gives people perspective and is the most effective manner to boost spending power and absorb the effect of rising inflation,’ he said.

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