The Dutch parliament has reached an agreement over the 2013 austerity budget plan, as the country continues to deal with its struggling economy.
The deal was reached between members of the outgoing coalition and three opposition parties after two days of talks, AP reports.
The austerity deal includes measures to cut the Netherlands’ public deficit to meet the European guidelines.
The Netherlands, one of only four eurozone countries to still retain triple A credit rating, could lose the status as a result of the turmoil.
Negotiations on a 16-billion-euro austerity package to rescue the Dutch economy began in early March after the economy plunged into recession and forecasts showed the 2013 budget deficit would reach 4.6 percent.
The worsening eurozone debt crisis has forced EU governments to adopt harsh austerity measures and tough economic reforms, triggering incidents of social unrest and massive protests in many European countries.