March 26, 2020 / 8:07 AM / 3 months ago

Coronavirus outbreak to push Dutch economy into sharp recession - CPB

AMSTERDAM, March 26 (Reuters) - The Dutch economy will enter its first recession since 2013 this year, as the coronavirus outbreak cripples production and demand, drives up unemployment and worsens government finances, the government’s main policy adviser the CPB said on Thursday.

The euro zone’s fifth largest economy could shrink by 1.2% to an unprecedented 7.7% in 2020, the CPB said, depending on how long measures to contain the coronavirus outbreak need to be in place.

“All scenarios result in a recession,” the CPB said, adding that it had no way to determine which of its four scenarios was the most likely. (Reporting by Bart Meijer; Editing by Alison Williams)

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