| The economy is rapidly recovering, under decreasing numbers of new infections and increasing vaccination coverage. The economy is projected to grow by over 3% in both 2021 and 2022. Unemployment will remain limited to 4.1% in 2022, which hardly deviates from the average in 2017â2019, the period just before the coronavirus crisis. Although the GDP level is projected to be 1.5% lower in 2025 than anticipated before the crisis, it is more favourable than the 3% negative impact previously assumed. Thus, the amount of permanent economic damage due to the COVID-19 pandemic is expected to remain limited. This is evident from the June projections and update of the Medium Term Outlook published by CPB Netherlands Bureau for Economic Policy Analysis on 22 June. |
