Given the social distancing measures and overall decline in labor demand (vacancies have plummeted after the lockdown), things look pretty dim for new labor market entrants. The Dutch, one of the largest small member states, have lost weight since enlargement to eastern Europe. The government debt has also increased rapidly from 45.5% in 2007 to 62.8% in 2010. The expected national budget deficit (3.7% of GDP) and government debt (64.1%) still are cause for concern as they exceed the limits set by the European Growth and Stability Pact. To what extent do the measures in practice help mitigate the economic impact of COVID-19? So far we have witnessed a substantial decline in employment in persons, though the decline up to and including April (and May) was quite limited compared to other western countries (CPB, 2020b), and has even recovered somewhat in the last months. Discover how our cash services, security services or our travel security solutions can support and enhance your daily business operations. While the economic situation gradually improved in most industrialised countries around 1933-1934, the Great Depression was still getting worse in the Netherlands. There is no information on the extent to which these measures have mitigated the economic impact of COVID-19 on small firms yet. But as described earlier the Netherlands was still unwilling to drop the gold standard, and instead joined an agreement between the last European countries to maintain the gold standard. From 1934 onward the Dutch government also experimented with a Labour Fund (Dutch: Werkfonds) to provide subsidised workplaces for the unemployed, often on large scale public works (comparable with the New Deal in the United States). At the end of August both schemes (NOW and Tozo) have been renewed for another 3 quarters until July 1st 2021, although the terms have somewhat changed: the NOW-subsidy on the wage bill will be gradually reduced from 90% to 60% and the Tozo becomes subject to a wealth test. Both GDP and GDP per capita are well above pre-crisis levels. This is slightly above the growth in the number households. The Dutch economy had long been dependent on international trade and finance (in 1929 an estimated 30% of the GNP came from export),[1] and especially the big shipping sector suffered from the lack of trading opportunities. In 2012, the gross debt ratio was still at 105 percent, but this had dropped to 94.3 percent in 2017. The effect of this was that while poverty increased, government support to the poor decreased. The scale of these government interventions was however too small to really change the situation. Recovery is nevertheless still fragile in a number of areas.

Netherlands: Protests planned in Amsterdam September 18-21, Netherlands: Protest reported in Amsterdam on September 5, The Netherlands: Extinction Rebellion protests planned in The Hague and Amsterdam September 1-21, Netherlands: Power outage across multiple areas of The Hague August 17, The Netherlands: Police arrest rioters in Schilderswijk (The Hague) August 11-14, Netherlands: Demonstrators to gather in The Hague August 10, Netherlands: Demonstrators gather in The Hague July 12 /update 4, Netherlands: Protest planned in Amsterdam July 5 /update 3, Netherlands: Police arrest protesters at The Hague June 28 /update 2, Netherlands: Police arrest dozens amid protests in The Hague June 21 /update 1, Netherlands: Demonstrators clash with police amid protest in Hoorn (North Holland province) June 19 /update 1, Netherlands: Demonstrators gather in Amsterdam June 10, Netherlands: Police disperse anti-racism demonstrators in Rotterdam June 3, Netherlands: Solidarity protest planned in Amsterdam on June 1, Netherlands: Gunfire reported in Almere May 6, Netherlands: Police arrest dozens of anti-lockdown demonstrators in The Hague May 5, Netherlands: Wildfire prompts evacuation of Herkenbosch (Limburg province) April 22. View the report for this country to stay informed on possible security risks. Already in 2007 - before the onset of the crisis - consumer confidence declined. The Dutch government was also very reluctant to intervene in its trade policy.

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