The Dutch State plans to sell another 10 percent of its ABN Amro shares, bringing its stake in the bank down to around 40 percent. The sale will happen through a pre-arranged trading plan executed by BofA Securities Europe, said the NLFI, the foundation that manages government interests in financial institutions on behalf of the Dutch State.
The Dutch budget deficit next year will be just above the 3 percent standard that the European countries have agreed upon with each other, reports outgoing Minister Sigrid Kaag (Finance). That is because parliament increased government expenditure by 1.5 billion euros last week by adopting multiple amendments (small adjustments to bills) and motions.
The parliamentary year starts with Budget Day today. Due to the Cabinet’s outgoing status, it will be less exciting than other years. The political parties are mainly focused on the parliamentary elections on November 22. During the speech from the throne, the King will discuss the Cabinet’s plans. Minister Sigrid Kaag (Finance) will then present the 2024 Budget. It is primarily a “poor policy” budget because the coalition of VVD, D66, CDA, and ChristenUnie has fallen and can’t make significant policy changes in its caretaker capacity without parliament’s consent.
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