Luxembourg: Staff Report for the 2015 Article IV Consultation

International Monetary Fund

No 2015/144, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2015 Article IV Consultation highlights that Luxembourg’s economic model, emphasizing fiscal stability, openness, firm prudential oversight, and responsiveness to investor needs, is delivering strong growth. Buoyant financial services exports contributed to real growth of close to 3 percent in 2014, with strong job creation. Budget 2015 launched a multi-year fiscal consolidation aimed at offsetting falling revenues from electronic commerce. The economy faces important challenges going forward. Evolving international tax transparency standards, in which Luxembourg is participating fully, could impact the revenue base. Growth is projected at 2.5 percent in 2015.

Keywords: ISCR; CR; center; budget proposal; government; liability positions vis-à-vis nonresident; growth assumption; authorities' April update; growth program; EU initiative; Luxembourg's economy; Financial sector; Loans; Global; Europe (search for similar items in EconPapers)
Pages: 47
Date: 2015-06-08
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