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Dutch public deficit 4.1% in 2012

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(Globalpost/GlobalPost)

The Netherlands' public deficit came in at 4.1 percent of GDP last year, the fourth year in a row the eurozone country breached the EU's 3.0 percent ceiling, the national statistics office said Friday.

The public deficit, which also includes local government and health spending, declined from 4.5 percent of gross domestic product in 2011 and a high of 5.6 percent in 2009.

The country is implementing a programme of spending cuts in order to squeeze the deficit back under the 3.0 percent ceiling.

The Netherlands' public debt rose to 71.2 percent. The EU ceiling, widely breached, is 60 percent of GDP.

The country is one of only four eurozone members to still hold a top triple-A credit rating from all three leading credit rating agencies.

ndy/rl/yad

http://www.globalpost.com/dispatch/news/afp/130329/dutch-public-deficit-41-2012