June 26, 2020 / 2:04 PM / a month ago

Dutch govt sees 2020 deficit of 9% due to coronavirus measures

AMSTERDAM, June 26 (Reuters) - Dutch Prime Minister Mark Rutte on Friday said his government will run an “astronomical” deficit of almost 9% of economic output this year, due to efforts to soften the economic blow of the coronavirus pandemic.

Government debt is expected to balloon to 63% of GDP this year, Rutte said, as the economy shrinks, expenses to compensate for a partial lockdown run up, while a large part of tax income is deferred to next year.

After years of austerity, Dutch government debt had fallen to 48.7% of GDP last year. (Reporting by Bart Meijer; Editing by Kevin Liffey)

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