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Monday, January 17, 2022

Dutch financial system will develop by 3.6 % subsequent yr: ING

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The Dutch financial system will develop by 3.6 % in 2022 in keeping with projections by ING. Elevated demand for providers contributed to this development determine. This yr, a development of 4.4 % is anticipated, the financial institution mentioned.

ING expects the resurgence of the coronavirus and associated authorities restrictions to inhibit an financial rebound. “That is the primary danger within the development forecasts, particularly with the developments of latest variants of the virus,” mentioned ING economist Marcel Klok. Moreover, there’s tightness on the labor market. The Netherlands can also be battling issues within the provide chain, together with the remainder of the world.

ING is projecting the Dutch financial system to develop by greater than 4 % in comparison with 2019 ranges. Most business sectors will then be bigger than earlier than the pandemic. This prediction doesn’t apply to the hospitality, aviation, and journey industries, which had been badly affected by the coronavirus disaster.

The actual earnings generated by the typical working family is anticipated to be about the identical subsequent yr because it was this yr. This is because of continued excessive inflation from rising fuel, electrical energy, and gasoline costs. ING thinks inflation will dip again beneath 2 % within the second half of the yr, “when the influence of vitality is smaller.”

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