“ The Dutch economy continues to recover, the domestic demand shot up 2% in 2015 after 1% in 2014 ,” said a statement from the agency.
Fitch expects economic growth in the Netherlands will be 1.8% this year and in 2017, thanks to strong domestic demand will offset a weaker trade balance and a slight drop in production natural gas. The trade surplus decreased slightly to 11.5% of gross domestic product (GDP) last year against 12% in 2014.
The country’s debt, which represents 65.1% of GDP is “ significantly higher than the average of AAA rated countries which is 43% ” but Fitch expects it will decrease gradually.
The agency also estimates that the country has a “ strong financial flexibility (…) with broad access to capital markets and high domestic savings .”
The current account shows a surplus of more than 9% of gross domestic product (GDP) since 2011, also notes the agency.
The unemployment rate should fall to 6.2% in 2017 after 7.9% in 2014. This, however, will remain above its level before the crisis (4%).
The price of residential real estate rose 3% last year and 8% since mid-2013 after falling 22% over the previous five years.
vmt / jld / jpr
No comments:
Post a Comment