Luxembourg: Recent Economic Developments

International Monetary Fund

No 1996/047, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; Luxembourg government; Luxemburg; GDP; surplus; government transfer; declaration regime; General government; economic growth; finances in Luxembourg; Employment; Unemployment; Budget planning and preparation; Exports; Europe; Africa (search for similar items in EconPapers)
Pages: 59
Date: 1996-06-21
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