Economic Update
In 14Q2, GDP volume contracted, again. Deflation may support consumption going forward, but lower consumer confidence and high unemployment temper expectations. For fixed investment, headwinds outpace tailwinds, so a firm recovery is unlikely.
Economic Update
GDP growth remains robust, mainly owing to a rise in private consumption. We expect employment growth to pick up, especially in the services sector. The fiscal reform announced in the wake of next year’s election puts the deficit target at risk.
Economic Report
With the deficit falling in line with expectations, the Dutch 2015 Budget contained only limited new policy measures. 2015 will be yet another year of austerity, and major reforms in health care and the labour market will be implemented.
Economic Report
For the first time an opinion poll showed a small majority in favour of Scottish independence. In this Economic Report, we present a general picture of an independent Scottish economy and the risks and opportunities Scotland will face if the Scots vote ‘yes’ to independence from the UK.
Country Report
Economic growth is expected to maintain its momentum in the medium term underpinned by strong domestic demand and economic diversification. However, the increase in current government spending challenges fiscal sustainability.
Economic Quarterly Report Dutch version
The Dutch economy is growing moderately in 2014. Household consumption will make a positive contribution in 2015, which results in an acceleration of GDP growth. Geopolitical tensions are a downside risk for the economic recovery.
Economic Quarterly Report Dutch version
The very gradual recovery in the global economy is expected to continue this year and next. We note however that the downside geopolitical risks have significantly increased in recent months.
Country Report
Economic growth in Mauritius continues to be suppressed by subdued external demand from Europe. Meanwhile, flash floods in the beginning of 2013 and an increased wage bill have driven up government expenditure.
Country Report
On the economic front, Sri Lanka is performing relatively well. Growth is holding up strongly and the balance of payments is improving. The increasingly authoritarian style of the Rajapaksa government is, however, less positive news.
Country Report
The South Korean government is trying to raise growth both in the short- and long-term. Meanwhile, the external vulnerability of the country and of its banking sector in particular, has decreased. Relations with North Korea remain uncertain and difficult.
Economic Update
Recent data shows that the Belgian economic recovery remained in place, but weakened in the second quarter of 2014. Going forward, we expect the recovery of the Belgian economy to continue in the second half of 2014, but the pace is likely to be sluggish.
Country Report
While Turkey’s economic growth started to slow in the second quarter, the central bank faces pressure to reverse its major January interest rate hike ahead of the 2015 parliamentary elections. As expected, Recep Tayyip Erdoğan became Turkey’s first directly-elected president.
Country Report
The recent massive election win of Modi’s Bharatiya Janata Party and expectations of business friendly reforms are boosting sentiment and growth. However, India will not change overnight.
