No spending cuts in 2014: finance minister

The Dutch government will not make any more spending cuts in 2014, even if the budget deficit is above the European Union norm of 3% of GDP, finance minister Jeroen Dijsselbloem said on Tuesday afternoon.

Dijsselbloem expects the Dutch budget for 2014, which includes an extra €6bn of spending cuts, to be enthusiastically received on November 15 when it goes for approval to the European Commission, he told broadcaster RTL Z.

The minister also commented on the somber view of the Dutch economy put forward earlier on Tuesday in new EU figures presented by commissioner Olli Rehn.

The forecast is ‘a bit too somber’, he told RTL Z. ‘We must await developments but the Netherlands should come out of recession next year,’ he said. ‘The recovery is weak but it is absolutely there.’

Asked about weak consumer confidence, Dijsselbloem said the Dutch are also too somber. ‘There is no reason to be somber. I have no cause to think there will be another crisis and the path is clear: recovery is coming,’ he said.

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