The Netherlands is experiencing a gradual economic recovery, mainly driven by domestic demand. Following a contraction in real GDP in 2012 and 2013, the Dutch economy returned to positive economic growth in 2014 and is expected to accelerate in 2015 and 2016. Consumer confidence and household investment are supported by the nascent recovery in the housing market. The Dutch labour market showed a moderate revival in 2014, which is expected to continue in the coming years. Inflation is expected to remain muted, supporting real wage growth in the short term but limiting deleveraging, while the current account surplus is expected to remain elevated. Government finances are expected to improve in 2015 and 2016. In-depth economic review 2015
The Netherlands is experiencing macroeconomic imbalances, which require policy action and monitoring. Risks stemming from the high level of private debt remain and deserve attention although recent measures support a recovery in the housing market and the curbing of mortgage growth. While the high current account surplus is partially traceable to structural features of the economy the structure of the pension and tax systems may potentially be a source of inefficient allocation of capital.
Read a complete analysis of the Netherlands' economy in the country report 2015 [682 KB]
2015 recommendations in brief
The Commission has made three country-specific recommendations to the Netherlands to help it improve its economic performance. These are in the areas of: investment in innovation; housing; pensions.