Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Dutch government says 2020 debt-to-GDP to hit 57.4% due to coronavirus support

11/30/2020 | 11:51am EST

AMSTERDAM, Nov 30 (Reuters) - The Dutch government expects its debt-to-GDP ratio to have risen to 57.4% by the end of 2020 as a result of heavy spending to support the economy during the coronavirus pandemic, it said on Monday.

Dutch debt to gross domestic product (GDP) stood at 48.7% at the end of 2020, making it one of the few countries to adhere to euro zone rules that allow a maximum of 60%.

The budget deficit will be around 6.2% this year, the finance ministry said, high but below a forecast of 7.2% given by Finance Minister Wopke Hoekstra in September.

The country's economy performed better than expected in the late summer and fall before a second wave of COVID-19 cases led to a second, partial lockdown that is ongoing.

"The Cabinet has spent billions on one-time support to prevent mass bankruptcies and unemployment," the ministry said in a statement.

The government ran a budget surplus of 1.7% in 2019.

Last week the government's economic forecasting agency said it expects economic growth to rebound by 2.8% in 2021 after contracting 4.2% this year. (Reporting by Toby Sterling; Editing by Jan Harvey)

© Reuters 2020
Latest news "Economy & Forex"
06:20aS.Africa's biggest coal exporter says 2020 exports fell to 70.2 million tonnes
06:14aFrance's Unemployment Rate Fell in 4Q
06:11aSterling gets vaccine boost to hit 8-month high vs euro
06:03aFed on hold as officials weigh pandemic against vaccines, fiscal support
05:52aBritain may raise contactless ceiling after pandemic payment surge
05:44aReluctance to Spend Throttles India's Growth Long After Covid-19 Lockdowns Ended
05:44aFed Likely to Keep Interest Rates Near Zero as Economy Stumbles
05:43aFACTBOX : The Brexit impact so far: paperwork, process and higher prices
05:42aGold under pressure as dollar rebounds ahead of U.S. Fed verdict
05:38aSINOMACH CHINA NATIONAL MACHINERY INDUSTRY CORPO : CUC incubates Asia's largest waste pyrolysis and gasification project
Latest news "Economy & Forex"