The contraction of the economy worries entrepreneurs. ‘Exports important to the Netherlands have fallen by almost 2% and investment is stagnating. This affects general well-being in the long term,’ say VNO-NCW and MKB-Nederland in response to data from the Central Bureau of Statistics (CBS).
The combination of high interest rates, persistent tension on the labor market and falling consumption is now being felt in many sectors. Figures show that the Netherlands is doing worse than its neighbors in the first quarter of this year. This forces us to face the facts, employers think.
‘It also emerged on Monday that the industry in our country continues to shrink. Worrying, because this sector strongly determines the ups and downs of our economy (about 20 percent) and is crucial for the future so that Europe remains autonomous’.
Vigilance
Unions have previously said the economic contraction is an encouragement to keep fighting for higher wages. Employers’ organizations say that “where possible” wages should increase, but “although vigilance is increasingly appropriate here”.
For example, wage costs are also rising significantly, according to VNO-NCW and MKB-Nederland. “In total, entrepreneurs see their wage costs increase by around 17 billion euros this year and last year.” The organizations call it “important to monitor each other’s balance and get the economy back on track.”
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
