In its most optimistic scenario, the Banque centrale du Luxembourg has forecast a decline of 6.1% for the rest of 2020, but according to its most pessimistic scenario, the economy could decline by as much as 13.4% in 2020. Everything will depend on the effectiveness of the restrictions, essential to contain the effects of the pandemic, but which will also prevent the economy from functioning normally, according to the Central Bank.
One thing is certain, however, according to the BCL: this year, the recession will have negative and long-lasting consequences on the job market and on public finances.
