Kingdom of the Netherlands—the Netherlands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands

Kingdom of the Netherlands—the Netherlands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands—the Netherlands

November 15, 2021

Preview Citation

Format: Chicago

Kingdom of the Netherlands—the Netherlands: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Kingdom of the Netherlands—the Netherlands, (USA: International Monetary Fund, 2021) accessed December 25, 2024

Summary

The Dutch economy was more resilient than the average Euro area economy in 2020 owing in part to a high rate of digitalization of activities that allowed a large share of the work force to work remotely, while the strong policy response mitigated the impact of containment measures. A strong recovery is underway, with pre-pandemic GDP level to be exceeded in 2021:Q4, and the labor market has tightened considerably. The economy is forecast to grow by 4.0 percent in 2021 and 3.3 percent in 2022, on the back of strong consumption and investment, supported by increasing coverage of vaccines. Near-term risks to the outlook are roughly balanced, driven by the uncertain trajectory of the pandemic on the downside, while a fuller than expected drawdown of savings accumulated in the pandemic would further support domestic demand and growth. Further out, real estate market developments present additional risks.

Subject: COVID-19, Expenditure, Financial sector policy and analysis, Financial sector risk, Health, International organization, Labor, Labor markets, Monetary policy, Public debt

Keywords: COVID-19, Europe, Financial sector risk, Global, Government finance statistics yearbook, Household debt, Housing market vulnerability, Insolvent firm, Labor markets, Transparency policy

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/243
Stock No:

1NLDEA2021001
ISBN:

9781589068735
ISSN:

1934-7685

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