- The Dutch care-taker government published its 2018 Budget today …
- … which holds no new major policy initiatives
- The strength of the Dutch economy allows a rise in government expenditure …
- … without preventing an improvement in government finances
- The newest projections of the government cash balance point towards another fall in the 2017 borrowing requirement and downward pressure for 2018
- We expect the DSTA to lower its Tbill issuance and limit its bond issuance in 2017
- For 2018, we estimate net bond supply to reach a record low level of EUR minus 14bn
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