In 2020, Sandra Phlippen, chief economist at ABN AMRO presented us two times her vision on the economic outlook. Again, last week we had the opportunity to listen to her vision on the near economic future of the Netherlands, Europe, and worldwide.
Sandra kicked off her presentation with the sentence ‘It gets darkest before dawn’. She sketched a scenario of an approaching third wave and expressed the expectation that we must take into account the fact that the pandemic will remain with us for some time. Supported by several figures, she showed differences between the first and second waves. She showed that the second lockdown is less damaging to our economy than the first and that people are not staying at home as much and are less cautious.
In her presentation, she showed that a solution for the repayment of the government’s financial aid and the postponed taxes certainly remains to be found. It is and will remain (for the time being) a millstone around the necks of (drowning) companies.
As regards world trade, she showed that China has recovered at lightning speed. The expectation is that our economy, too, will recover rapidly when restrictions in daily life decrease. Who knows, maybe this is the perfect opportunity for a green(er) reboot.
The short silence that fell after Sandra’s concluding words made it clear that she once again provided us with a cast-iron presentation.