According to Moody's, Luxembourg's outlook is stable: the economy is proving resilient and public finances are robust and transparent.

The credit rating agency Moody's has confirmed the Grand Duchy's triple-A rating. Luxembourg's economic resilience, solid public finances and robust and transparent institutional framework are the reasons why the agency has given Luxembourg the highest possible rating. It is one of the few countries in the world that can boast this guarantee of stability and confidence.

Moody's predicts that Luxembourg's credit profile will emerge unharmed from the coronavirus crisis due to a strong economic recovery and the preservation of its substantial financial sector. In addition, Moody's expects that Luxembourg's proactive policy will continue to enable the country to successfully meet the challenges arising from changing global and European tax regulations.

Minister of Finance Pierre Gramegna commented on this news, stating that the AAA rating confirms the soundness of policies that are in place to normalise everyday life. The rating reassured the government of the effectiveness of its fiscal policy and the soundness of public finances. Finally, Gramegna argued, the rating shows that Luxembourg has mastered the crisis well so far, opening excellent prospects.