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"A lot of people are asking me whether extra savings must be made due to the international debt crisis, the unrest on financial markets, and moderate growth. I can understand this question. A simple yes or no answer, however, is difficult," De Jager said in his blog.
De Jager said additional budget cuts on top of the planned 18 billion euros in austerity measures in the current government term would only be necessary if the 2012 budget deficit is 3.7 percent of Gross Domestic Product (GDP) or more, rather than the government's target of 2.7 percent.
"I have no reason to assume this will be the case," he said.
Copyright Reuters, 2011