PARIS (Pakistan Point News / Sputnik - 01st September, 2022) The Dutch government plans to allocate about 15 billion Euros ($15.1 billion) next year to mitigate the effects of inflation on the population, media reported on Wednesday.
Members of the ruling coalition in the Netherlands reached an agreement on new measures to support the purchasing power of the population. In particular, the government intends to allocate an unprecedented 15 billion euros in 2023 to compensate households for rising food and electricity prices, Dutch broadcaster Nederlandse Omroep Stichting (NOS) reported.
Another measure will be a 10% increase in the minimum wage from January 1 next year. In addition, the new package of measures would reduce fuel taxes and excise duties.
The annual inflation in the Netherlands in July reached 10.3% for the first time since 1975 due to soaring energy and food prices, as well as housing rents. The inflation in August stood at 13.6%, according to the Dutch Central Bureau of Statistics.
Since 2021, energy and electricity prices in Europe have been rising rapidly following a global trend. Inflation and the growth in food and energy prices accelerated across Europe against the backdrop of sanctions imposed on Russia over Ukraine.
