IMF cuts Dutch growth forecast, sees inflation rising


The International Monetary Fund sees economic growth in the Netherlands and  other European countries slowing down, while inflation continues to be problematic.

The IMF on Tuesday cut its 2023 forecast for Dutch growth from 1% to 0.6%, and to 1.1% next year. The Dutch macro-economic planning agency CPB said last month that growth would reach 0.7% this year and 1.5% in 2024.

In 2022, at the tail end of the coronavirus pandemic, the Dutch economy grew 4.3%, according to the international body.

Read the full forecast

“The global economy is showing resilience. It’s not knocked out by the big shocks it’s experienced in the last two or three years, but it’s not doing too great either,” chief economist Pierre-Olivier Gourinchas told news agency Reuters in an interview. “We see a global economy that is limping along and it’s not quite sprinting yet.”

The IMF also put inflation in the Netherlands at 4% this year and 4.2% in 2024. The current official rate in the Netherlands is 0.2% but that is due to official changes in the way energy prices are calculated. Food inflation remains 10%.

The IMF also cut its eurozone growth forecasts to 0.7% this year and next year 1.2%.

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