With the world in flux, 2023 was an economically turbulent year. Inflation was high, interest rates rose and the Netherlands saw virtually no economic growth. The war in Ukraine sent energy prices soaring. The Dutch government took a range of extra measures to prevent a rise in poverty, such as setting a cap on the price of energy and raising the minimum wage by 10%. Despite the decline in economic growth, unemployment remained low. A sharp rise in wages helped ensure that purchasing power improved for many households in the second half of the year. The Netherlands’ EMU balance ended the year at -0.3% of gross domestic product (GDP) and the national debt at 46.5%.