Dutch provisional deficit nears $12.96 bn in Jan–Sept 2025: CBS

The Dutch government ran a budget deficit of nearly €11 billion (~$12.96 billion) in the first nine months of 2025, spending significantly more than it received, according to provisional figures released by Statistics Netherlands (CBS). The shortfall was €9 billion higher than in the same period of 2024.

In its autumn budget statement, the Ministry of Finance had projected a full-year deficit of €21.9 billion, equivalent to 1.8 per cent of GDP. With the deficit already at €11 billion by the end of the third quarter, an annualised calculation points to a full-year gap of around €19 billion, or 1.6 per cent of GDP.

Government spending has expanded rapidly, with annualised expenditure exceeding €500 billion for the first time. Revenues in the first three quarters were almost €22 billion higher year on year (YoY), but spending growth was even stronger, CBS said in a release.

The largest increase came from payments to external parties, notably contributions to the European Union and financial support for Ukraine. Since 2019, annual government spending has risen by about half, lifting it to 44.7 per cent of GDP.

Despite the wider deficit, public debt rose only modestly to €494 billion by the end of the third quarter, an increase of just €3 billion since the start of the year. This was partly due to the use of financial assets to fund the deficit.

As economic growth outpaced debt accumulation, the debt-to-GDP ratio fell to 42.4 per cent, close to its lowest level in three decades and well below the EU reference ceiling of 60 per cent.

ALCHEMPro News Desk (HU)