The provinces of North Holland and Groningen were hit hardest economically in 2020. While the total Dutch economy shrank by 3.8% in 2020, North Holland and Groningen recorded a contraction of 7% and 5% respectively, Statistics Netherlands (CBS) reports Tuesday. The explanation for the contraction can be found in the corona crisis and its economic consequences. The economic consequences of the corona crisis were mainly noticeable in air traffic in North Holland. In Groningen the contraction was also caused by the reduced gas extraction.
The benefits agency UWV reports that a total amount of EUR 2.8 billion was paid out to more than 78,000 companies in the Netherlands, in the third round of the Emergency Measure Bridging Employment (NOW3). Within this scheme, companies have the option of getting 80% of the wage costs reimbursed, provided that a loss of turnover of at least 20% can be presented, in the period from October 2020 to December 2020.
Britain has accepted the request of the European Union (EU), in which the EU asked for an extension of the deadline until the 30th of April to ratify the Brexit trade arrangement. To the acceptance, Britain added they expected there to be no further delays. This request was initially submitted in the beginning of February, to make sure the agreement can be translated in all European languages.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.00% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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