The Dutch government’s debt-to-GDP ratio was nearly at its lowest level in the past 30 years by mid-2024. It dates back to the end of 2007, when the debt ratio stood at 42.8 percent. The euro-denominated debt has increased by nearly 80 percent since 2007. However, the size of the economy also increased by nearly the same amount, leading to little increase in the debt-to-GDP ratio. In the period between 2007 and now, the government has suffered two major crises – the credit crisis and the coronavirus crises – which saw debt rise rapidly in a short period of time.