The International Monetary Fund (IMF) said on Friday (8 August) "substantial" risks remained for an economic recovery in the Netherlands after three years of sluggishness, but some relief may come in 2004.
The Washington-based lender, in an annual review of the country's economy, said business and household confidence in the Netherlands were still weak.
A stronger euro could hinder growth and the possibility of sharp falls in home prices could undermine consumption, it added.
"There are as yet no concrete signs of stronger growth, and consumer and business sentiment are weak," the IMF said in a statement.
"Adjustment of corporate balance sheets may take longer than expected and the fiscal retrenchment needed in many countries may hinder short-term growth," it added.
