In the United Kingdom, the economy has largely reopened. The UK budget deficit was more than 14 per cent of UK gross domestic product last year. ‘It will be high,’ says Keys de Court, a macroeconomist and PNR commentator, because the British government owes a lot to companies and they will not repay it.
‘The English are reopening now, but what do you think? They take into account that the budget deficit will again be ten percent of GDP. The money is free, the economy is left, the vaccinations are done. I don’t think there is much hope that the economy can stand on its own two feet. There is no hope that the economy itself will get a drag. You can apply this story to other countries as well. In the Netherlands, too, the budget deficit is expected to be 5 or 6 percent. ‘
“Then what’s wrong with the economy?” D Court Wonders. ‘We swam in the web: go ahead ahead of time and hope it turns out well. Going ahead with time means that problems are getting worse. ‘
About Keys de Court
Economist Keys de Court gives his (own) view of the financial-economic world after 12:00 every day. Listen live on PNR Jakenton or whenever you want bnr.nl/keesdekort, Apple Podcast and Spotify.