Luxembourg: Staff Report for the 2004 Article IV Consultation

International Monetary Fund

No 2004/125, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2004 Article IV Consultation highlights that the Luxembourg authorities are adjusting policies to the growth slowdown, although major new initiatives are on hold in the run-up to the June 2004 general election. Tax cuts, high expenditure, and weak activity are estimated to have caused a general government deficit in 2003. Executive Directors have welcomed indications that real GDP growth is rebounding, following an unusually long period of sluggish activity. However, they have stressed that medium-term growth prospects are now less buoyant in comparison with the exceptional growth performance of the past decade.

Keywords: ISCR; CR; projection; government; deficit; authority; authorities' stability; IMF staff calculation; staff appraisal; deficit target; expenditure growth; Pension spending; Financial sector; Income; Global (search for similar items in EconPapers)
Pages: 42
Date: 2004-05-05
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