The Ministry highlighted that Creditreform expects significant ‘GDP growth to pick up again, underpinned by substantial public investment,’ in particular in support of the energy and environmental transition.
In addition, Creditreform believes that the cut in key interest rates and ‘renewed consumer confidence’ may lead to a ‘more favourable trend in economic activity,’ with ‘a better performance from the financial sector’.
These forecasts are bolstered by the moderate inflation expected in Luxembourg in 2024. The Ministry of Finance believes that this should allow Luxembourg to maintain its debt to GDP ratio at a relatively low level.
