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Business

Dutch govt rolls out €6bn stimulus package

Text by AFP

Latest update : 2008-11-22

The Dutch government announced Friday a six-billion-euro stimulus package, as well as official plans for the Fortis takeover of ABN Amro to "build a new, strong bank," in the words of Finance Minister Wouter Bos.

The Dutch government announced on Friday a six billion euro (7.5 billion dollar) economic stimulus package to help the country cope with the global financial crisis.
   
The six billion euros is equal to one percent of Dutch gross domestic product (GDP), the level likely to be agreed by the European Union for a joint regional stimulus plan.
   
"We can see that the economy has faltered badly," Prime Minister Jan Peter Balkenende said after a cabinet meeting.
   
A spokesman for the prime minister's office said the funds would come from budget reserves and be equal to about one percent of GDP.
   
The package includes fiscal measures which should improve corporate liquidity, he added.

Date created : 2008-11-21

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