IMF Staff Country Reports

Luxembourg: Staff Report for the 2004 Article IV Consultation

Publication Date:

May 5, 2004

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2004/125

Subject:

Economic sectors Expenditure Financial sector Income Labor National accounts Pension spending Wages