Luxembourg: Recent Economic Developments

June 21, 1996

Summary

This paper analyzes economic developments in Luxembourg during the 1990s. Economic performance continues to be exceptional in Luxembourg. Growth averaged 6 percent during 1980s, well above the European average, while the inflation and unemployment rates ranked among the very lowest. In 1994, Luxembourg was the only European industrialized country to run a general government surplus. Luxembourg also had the lowest debt-to-GDP ratio, the largest current account surplus, and possibly the highest real saving in this group. These successes are attributable at least in part to the skillful management of policy to facilitate structural change.

Subject: Budget planning and preparation, Employment, Expenditure, Exports, International trade, Labor, Public financial management (PFM), Unemployment

Keywords: Africa, Budget planning and preparation, CR, declaration regime, economic growth, Employment, Europe, Exports, finances in Luxembourg, GDP, General government, government, government transfer, ISCR, Luxembourg government, Luxemburg, surplus, Unemployment

Pages:
59
Volume:
1996
DOI:
https://doi.org/10.5089/9781451824230.002
Issue:
047
Series:
Country Report No. 1996/047
Stock No:
1LUXEA0011996
ISBN:
9781451824230
ISSN:
1934-7685

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Notes

This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

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