Luxembourg: Staff Report for the 2014 Article IV Consultation
May 9, 2014
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This 2014 Article IV Consultation highlights that with a strong policy framework, Luxembourg has weathered the crisis well and the economy is rebounding. The fiscal position remains sound, and the large financial sector has been resilient. After a shallow recession in 2012, growth reached 2.1 percent in 2013. The improving economic and financial environment in Europe drove the recovery in services exports. The outlook is for growth to firm up but without returning to its pre-crisis trend. Output is forecast to grow broadly in line with potential (2 to 2½ percent) during 2014–2019.
Subject: Banking, Economic sectors, Expenditure, Financial sector, Fiscal policy, Fiscal stance, Labor, Output gap, Public debt
Keywords: cost competitiveness, CR, diversification proceeds, Europe, expenditure review, Financial sector, Fiscal stance, Global, government, government housing benefits policy, growth prospect, ISCR, liability positions vis-à-vis nonresident, Luxemburg, staff, wage indexation mechanism
Pages:
55
Volume:
2014
DOI:
Issue:
118
Series:
Country Report No. 2014/118
Stock No:
1LUXEA2014001
ISBN:
9781475518528
ISSN:
1934-7685
