Luxembourg: Staff Report for the 2004 Article IV Consultation

May 5, 2004

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Luxembourg: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 25, 2024

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.

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

Keywords: Authorities' stability, Authority, CR, Deficit, Deficit target, Expenditure growth, Financial sector, Global, Government, IMF staff calculation, Income, ISCR, Pension spending, Projection, Staff appraisal

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/125
Stock No:

1LUXEA0022004
ISBN:

9781451824322
ISSN:

1934-7685

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