Dutch PM warns of recession

BRUSSELS, Dec. 5 (Chinese media) -- Dutch Prime Minister Jan Peter Balkenende said Friday that it's very likely the country will enter into a recession next year, Radio Netherlands reported.

Speaking after the cabinet's weekly meeting, the prime minister said he expected 2009 to be a difficult year. He described the economic downturn as unprecedented and warned that the economy might not start recovering until 2011.

Balkenende, who had spoken with Dutch captains of industry, said unemployment was on the rise and there was a sense of urgency among both employers and employees.

Recent data showed that business and consumer confidence had fallen to a multi-year low and many Dutch companies are slashing output and planning layoffs. Dutch Finance Minister Wouter Bos had earlier also predicted recession next year, which would be the country's first in 27 years.