Baku, April 30 (AZERTAC). The Netherlands is today celebrating the inauguration of King Willem-Alexander after the abdication of his mother, a chance to set aside concerns about an economy stuck in recession and rapidly rising unemployment. Events get under way with the arrival of Queen Beatrix and her son at the Royal Palace on Amsterdam`s Dam Square, for the signing after 10 a.m. local time of the 75-year-old monarch`s instrument of abdication after 33 years on the throne. The city authorities say they`re expecting at least 800,000 visitors. The celebrations on Queen`s Day, a national holiday, will be mirrored across the country with concerts and fairs. Dutch television is broadcasting 14 hours of live programming. The nation could use some additional revenue and positive sentiment after the economy slipped into its third recession since 2009 and unemployment almost doubled to 8.1 percent over the past four years. Prime Minister Mark Rutte has postponed 4.3 billion euros ($5.6 billion) in budget cuts for next year and urged consumers to stop being gloomy and start spending. Even so, the austerity measures may be reinstated if the economy doesn`t grow strongly enough in the coming months. “Everybody is gearing up for this, and many citizens have reacted very positively the past few months to the new king and queen,” Paul Schnabel, director of the Netherlands Institute for Social Research in The Hague, said in an interview. “People will enjoy this but after today this is all over, and the little extra spending won`t help the economy.” 

Beatrix announced her intention to abdicate in January, following the example of her mother, Queen Juliana, who stepped down from the throne early in 1980. Willem-Alexander, 46, becomes king immediately when Beatrix signs the abdication document. His Argentinian-born wife, Princess Maxima, 41, becomes queen. The couple have three daughters. He will be the first monarch to bear the name Willem- Alexander and the first king since Willem III died in 1890. Juliana`s mother, Wilhelmina, who succeeded Willem III, also gave up the throne in 1948. After the abdication ceremony, the royals will cross the street in the afternoon to the Nieuwe Kerk, the 600-year-old gothic church where Dutch monarchs are traditionally sworn in. A total of 2,045 guests are invited to attend, including the entire Rutte Cabinet and all members of parliament. Also attending will be Britain`s Prince Charles and members of the royal families of Spain, Japan and Norway, among others. In contrast to a British coronation ceremony, the Dutch monarch is never actually crowned, so the state regalia are simply displayed on a table during the ceremony in the Nieuwe Kerk. The inauguration is costing the government 5 million euros, excluding security measures, Rutte said last month. The city of Amsterdam is spending another 7 million euros on the event, Mayor Eberhard van der Laan announced two weeks ago. Police will deploy 10,000 officers, with reinforcements brought in from all over the country. The mayor has declined to comment on specific security measures following the Boston Marathon bombings earlier this month.