Amsterdam - The economic recession in the Netherlands will be worse than was predicted by the Central Planning Bureau, a former Dutch finance minister said in an interview published in the Dutch financial daily Het Financieele Dagblad on Monday.

Former finance minister Onno Ruding, of the Christian Democrats, said the Dutch economy was likely to shrink around 3 per cent in
2009.

He said the current government coalition of Christian Democrats, Labour and the Christian Union should adjust the government budget and expenditures accordingly.

Last month, the central planning bureau, which prepares statistical information for the government, predicted the Dutch economy would shrink 0.75 per cent in 2009.

Ruding was minister of finance between 1982 and 1987 and later worked for for the US bank Citigroup. (dpa)