The Dutch economy is expected to grow by 3.2% in 2017 and by 2.7% in 2018 and 2.5% in 2019, supported by a fiscal stimulus package. Unemployment is forecast to fall below 4% in 2019, while wages and inflation are set to pick up. As a result, cost competitiveness is set to deteriorate slightly, having a dampening effect on the current account. Despite the significant fiscal expansion planned, the headline balance is expected to remain in surplus over the forecast horizon. General government debt has fallen below 60% of GDP and is expected to decline further.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 2,2 3,2 2,7 2,5
Inflation (%, yoy) 0,1 1,3 1,5 2,2
Unemployment (%) 6,0 4,8 4,0 3,5
Public budget balance (% of GDP) 0,4 0,7 0,5 0,9
Gross public debt (% of GDP) 61,8 57,7 54,9 51,5
Current account balance (% of GDP) 8,7 9,1 8,7 8,4

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