Luxembourg: 2025 Article IV Consultation-Press Release; and Staff Report

Luxembourg: 2025 Article IV Consultation-Press Release; and Staff Report
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Volume/Issue: Volume 2025 Issue 123
Publication date: June 2025
ISBN: 9798229011754
$20.00
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Topics covered in this book

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Finance , Labor , Economics- Macroeconomics , Public Finance , Expenditure , Income , Financial sector stability , Macroprudential policy , Stress testing , Financial sector , Mutual funds , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Labor markets , Financial Sector Assessment Program

Summary

Luxembourg has strong economic fundamentals and policy buffers, including low public debt. The large financial sector has weathered well the recent shocks and the 2024 FSAP found it sound and well diversified. But growth in the past years has been lackluster hampered by a loss in confidence in the housing market, high labor costs, and low productivity growth. Demand-focused fiscal policies helped smooth exogenous shocks but were less effective in creating momentum in the economy.