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UPDATE 2-Dutch agree more budget cuts for 2014 - finance minister
August 27, 2013 / 12:17 PM / 4 years ago

UPDATE 2-Dutch agree more budget cuts for 2014 - finance minister

(Updates sourcing, adds context)

AMSTERDAM, Aug 27 (Reuters) - The Dutch government has agreed a further 6 billion euros ($8 billion) in budget measures to honour the European Union's deficit ceiling next year, Finance Minister Jeroen Dijsselbloem told reporters on Tuesday.

The latest package has been under discussion for several weeks already, and details of the cuts will be presented on Sept. 17 in the 2014 budget.

The Netherlands has already implemented several rounds of spending cuts in an attempt to bring its deficit below 3 percent of economic output, in line with EU requirements and to protect its high credit-rating.

Agreement between the two government coalition parties on additional budget cuts had been widely expected.

The government's economic forecaster, the CPB, earlier this month raised its projection for the deficit to GDP ratio to 3.9 percent for 2014, from 3.7 percent previously.

That forecast did not take account of the likelihood of further budget cuts.

The three main agencies rate the Netherlands triple-A, albeit with a negative outlook.

$1 = 0.7477 euros Reporting by Sara Webb; Editing by Ruth Pitchford

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