AMSTERDAM -- The Dutch government will launch a €6 billion ($8 billion) stimulus package for the economy, Prime Minister Jan Peter Balkenende said Wednesday, addressing the parliament.
Mr. Balkenende also announced an additional €1.5 billion stimulus from the Dutch provinces.
The stimulus package will enable the government to invest in jobs, infrastructure and energy-saving and fiscal measures, Mr. Balkenende said.
In addition, the Dutch government will launch a set of cost-saving measures for 2011, including a rise of the state pension age to 67 years from 65, the prime minister said.
The Dutch economy is set to shrink by 3.5% in 2009 and by 0.25% in 2010, according to data from the Dutch government's planning agency released last week. This would be the largest contraction in the country since 1931.
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