{
  "title": "Luxembourg: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg",
  "publication": "IMF Staff Country Reports, April 3, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/04/03/luxembourg-2018-article-iv-consultation-press-release-staff-report-and-statement-by-the-45781",
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  "summary": "This 2018 Article IV Consultation highlights that the economic growth in Luxembourg reached 2.3 percent in 2017, above the European Union average, and was driven by net exports of financial services and private consumption. Growth is projected at 3.",
  "sections": [
    {
      "heading": "Economic performance and outlook",
      "content": "- Economic growth reached 2.3 percent in 2017, above the European Union average.\n- Growth drivers in 2017: net exports of financial services and private consumption.\n- Growth projection for 2018: 3.5 percent.\n- Labor market: continued strong job creation projected for 2018.\n- Inflation: a temporary slowdown expected in 2018."
    },
    {
      "heading": "Fiscal position and public finance",
      "content": "- Fiscal outcome in 2017: a fiscal surplus of 1.4 percent of GDP, supported by buoyant corporate tax revenues.\n- Medium-term outlook: the full impact of 2016 tax reform, combined with a continued need for high public investment, is expected to result in a small fiscal surplus over the medium-term."
    },
    {
      "heading": "Key findings and focus areas",
      "content": "- Main findings:\n  - 2017 growth of 2.3 percent, driven by financial services exports and private consumption.\n  - Projected growth of 3.5 percent in 2018 with strong job creation and temporary inflation slowdown.\n  - 2017 fiscal surplus of 1.4 percent of GDP due to buoyant corporate tax revenues.\n  - Medium-term fiscal outlook shaped by 2016 tax reform and high public investment needs, leading to an expected small fiscal surplus.\n- Subject areas highlighted: Banking; Corporate income tax; Financial institutions; Financial Sector Assessment Program; Financial sector policy and analysis; Mutual funds; Public debt; Revenue administration; Taxes.\n\nInternational Monetary Fund. European Dept. \"Luxembourg: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Luxembourg\", April 3, 2018\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 3, 2018",
    "Series: IMF Staff Country Reports",
    "Economic growth reached 2.3 percent in 2017, above the European Union average.",
    "Growth drivers in 2017: net exports of financial services and private consumption.",
    "Growth projection for 2018: 3.5 percent.",
    "Labor market: continued strong job creation projected for 2018.",
    "Inflation: a temporary slowdown expected in 2018.",
    "Fiscal outcome in 2017: a fiscal surplus of 1.4 percent of GDP, supported by buoyant corporate tax revenues.",
    "Medium-term outlook: the full impact of 2016 tax reform, combined with a continued need for high public investment, is expected to result in a small fiscal surplus over the medium-term.",
    "Main findings:",
    "Subject areas highlighted: Banking; Corporate income tax; Financial institutions; Financial Sector Assessment Program; Financial sector policy and analysis; Mutual funds; Public debt; Revenue administration; Taxes.",
    "**Country Report**"
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