Impact of COVID-19 on Netherlands Economy Size, Share, Trends & Forecast 2019-2025
The first case related to COVID-19 in the Netherlands was witnessed on 27th February 2020. By 11th April 2020, the cases related to COVID-19 increased to more than 23,000 and has registered more than 2,500 fatalities. As per the International Monetary Fund, the GDP of the Netherlands was $902 billion in 2019. As per the European Commission, the GDP growth of the country was 1.7% in 2019 and before the pandemic; it is projected to be 1.3% for the next two years. In March 2020, ‘the Bureau for Economic Policy Analysis’ stated that the Dutch economy can shrink by 1.2% if the pandemic remains for the next three months. Moreover, the economy can shrink by 10% if the pandemic lasts for a year in the country. Due to the exponential growth of the cases in the country, on 12th March the government restricted the public event of more than 100 people till 6th April 2020. On 24th March, the period of restriction is increased to 1st June and after three days of this closing of all restau...