The Dutch government said on Wednesday it would make an additional 10 billion euros ($13.50 billion) available for unemployment benefits, while local governments will add another 1.5 billion euros to its new stimulus package. This brings total new stimulus measures announced on Wednesday to 17.5 billion euros, including a 6 billion euro package unveiled earlier to be invested in civil projects. As a result of the overall package, the government's budget deficit will be 5.7 percent of Gross Domestic Product (GDP) by 2010, Dutch Prime Minister Jan Peter Balkenende added. From 2011 an onwards, the government targets a reduction of the deficit of 50 basis points of GDP each year.
Note EU-Digest: in comparison the US budget deficit is presently estimated at 13% of GDP.
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