Netherlands residents still managing to save a lot of cash even after Covid
1 year, 10 months ago

Netherlands residents still managing to save a lot of cash even after Covid

NL Times  

Households in the Netherlands have continued to increase their savings considerably after the coronavirus crisis, according to De Nederlandsche Bank. The country’s central bank said that the total amount the Dutch have in their bank accounts increased again last year by tens of billions of euros. Collectively, everyone in the Netherlands had a total of 562.5 billion euros in their bank accounts last year, 34.1 billion more than the year before. The fact that the total amount of savings increased further last year may also be due in part to rising interest rates on savings accounts. Savings interest rates were extremely low last year, but increased again over the course of the year.

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History of this topic

Dutch debt level falls amid €3 billion surplus; Recession slightly worse than thought
1 year ago

Dutch debt level falls amid €3 billion surplus; Recession slightly worse than thought

NL Times  

The Dutch government managed to bring down the national debt, while collecting a surplus of 3 billion euros in revenue during the first three quarters of the year. According to the national statistics office, the government achieved a surplus of 3 billion euros in the first three quarters of 2023. Government debt also decreased by almost 14 billion euros to …

Dutch economy to grow slightly this year despite recession: ABN Amro
1 year, 3 months ago

Dutch economy to grow slightly this year despite recession: ABN Amro

NL Times  

ABN Amro expects the Dutch economy to grow slightly by 0.5 percent this year. Rising interest rates due to central bank interest rate increases also have a slowing effect because, for example, it makes borrowing more expensive. In addition, the European Central Bank’s target for inflation of 2 percent remains out of sight, according to ABN Amro. ABN Amro also …

Rabobank raises savings account interest rate above 1 percent; First major Dutch bank
1 year, 7 months ago

Rabobank raises savings account interest rate above 1 percent; First major Dutch bank

NL Times  

Rabobank will increase the interest rates on savings accounts from 0.75 percent to 1 percent on June 1. But since the European Central Bank started hiking interest rates to try and temper the high inflation caused by the Russian war in Ukraine, the Dutch banks have raised savings interest rates several times. Earlier this month, Minister Sigrid Kaag of Finance …

More tourism, fewer investments give Amsterdam coffers a €200 million boost
1 year, 7 months ago

More tourism, fewer investments give Amsterdam coffers a €200 million boost

NL Times  

Last year, Amsterdam made 196.5 million euros more than it spent, according to the annual accounts presented by alderman Hester van Buren. Due to previous lockdowns and their lingering effects, Amsterdam expected a loss of 65 million euros in revenue on the tourist tax. Staff shortages also meant 4.5 million euros less spent on maintenance of quays and bridges and …

Fewer people have issues paying debt, but many have multiple problems
1 year, 9 months ago

Fewer people have issues paying debt, but many have multiple problems

NL Times  

The number of Netherlands residents with current debts decreased last year, and along with that, the number of people struggling to pay their debts. But tens of thousands of people are facing multiple arrears, according to Stichting BKR, the foundation that keeps track of debts in the Netherlands. Last year, 7.8 million people had 11.7 million current consumer loans in …

Foreign banks attracting many Dutch savers with higher interest rates
2 years, 1 month ago

Foreign banks attracting many Dutch savers with higher interest rates

NL Times  

Foreign banks are attracting more and more Dutch savers with higher interest rates on savings accounts. Banks from Estonia, Italy, Germany, France, and Slovakia, among others, have seen a sharp increase in Dutch customers since the European Central Bank scrapped negative interest in July, NOS reports. But some foreign banks increased their interest rates more significantly, resulting in a difference …

Dutch inflation climbs to record 12%
2 years, 3 months ago

Dutch inflation climbs to record 12%

NL Times  

Inflation in the Netherlands rose to 12 percent in August, from 10.3 percent a month earlier. The ever-rising inflation puts pressure on the European Central Bank to raise interest rates even more. Several bank policymakers, including President Klaas Knot of De Nederlandsche Bank and Joachim Nagel of the Bundesbank, have argued for a stronger interest rate hike against the high …

Dutch economy grew more than gov't debt in 2021
2 years, 8 months ago

Dutch economy grew more than gov't debt in 2021

NL Times  

Government debt amounted to 52.1 percent of gross domestic product last year, down from 54.3 percent. The Dutch government saw its income increase by 25 billion euros to 337 billion euros last year. People spent more in the second year of the coronavirus crisis than in 2020, which increased the government's VAT revenues by 6 billion euros. Non-tax revenues increased …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

NL may get over €1bn less from EU coronavirus recovery funds
2 years, 10 months ago

NL may get over €1bn less from EU coronavirus recovery funds

Dutch News  

The Netherlands may receive more than €1bn less than expected from European coronavirus recovery funds because the economy has performed better than earlier estimates indicated, finance minister Sigrid Kaag told MPs on Friday The Netherlands had expected some €6bn from Brussels and €5.8bn had been used in calculations for drawing up the new government spending plans. However, the real figure …

Netherlands residents not spending lockdown savings: Rabobank
3 years, 6 months ago

Netherlands residents not spending lockdown savings: Rabobank

NL Times  

The billions of euros Netherlands residents put into their savings accounts during the coronavirus crisis will stay where it is for the time being. Most people don't plan on spending their savings in the near future, Rabobank concluded in a survey of 1,546 people, NOS reports. In 2020 Netherlands residents saved a massive 77 billion euros, the highest amount since …

Most NL residents believe cash will still be common in five years
3 years, 6 months ago

Most NL residents believe cash will still be common in five years

NL Times  

Three quarters of Dutch residents expect to still be using cash five years from now. At the same time, about 42 percent expect that they will use cash less frequently, the Dutch Central Bank said based on a survey of over a thousand people. "The Dutch people who expect to pay with cash either less often or not at all …

Dutch saved record €77 billion last year
3 years, 7 months ago

Dutch saved record €77 billion last year

NL Times  

Dutch households managed to hold on to 77 billion euros in savings over the past year, which is the highest annual total since 1995 when Statistics Netherlands started keeping track of the figures. The Netherlands also ranked third behind Belgium and Ireland in savings growth rate among Eurozone members. Some 2,390 euros ended up in savings accounts per person, but …

Persistent pandemic will delay economic recovery: Dutch Central Bank
3 years, 9 months ago

Persistent pandemic will delay economic recovery: Dutch Central Bank

NL Times  

The economy will recover more slowly than Dutch central bank DNB expected due to an extended and stricter lockdown. “Despite all good intentions, the Netherlands is not the best student in the European class when it comes to sustainability lessons.” Low-interest rates impact general public Another prediction that the DNB has for the future is that interest rates on savings …

NL residents saved a record amount last year
3 years, 10 months ago

NL residents saved a record amount last year

NL Times  

Despite the harsh economic downturn in 2020, many in the Netherlands were still able to save some money for their piggy bank. Limited opportunities to spend money due to social- and travel restrictions are seen as the main reason for the increase in savings. “The disposable income of many households stayed the same, due to governmental support, while the lockdowns …

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