Latest forecasts predict growth between 1 and 2% for both years.
The proposed state budget for 2023, is based on GDP growth of 2.5% for 2022 and 2% for 2023.
Consumer confidence is at its lowest level since surveys began.
However, the overall deficit for the 2021 budget is only €800 million, rather than the €2.4 billion stated in the budget.
Plus, here is all you need to know about financial aid from the government that emerged after the recent tripartite.
And Luxembourg continued to create new jobs, with 3,769 new positions filled in the last 3 months alone.
36 measures were proposed.
They argue the ‘mobilisation tax’ that the government recently presented should benefit municipalities.
Syvicol also wants to see financial support for social housing, currently at €1,500, doubled.
And, according to the union, a growing number of people are interested in running for local office without party affiliation. Syvicol thus proposed to change the limit for plurality block voting from 3,000 to 6,000 to allow more people in small municipalities to do just that.
Syvicol president Emile Eicher also proposed the creation of a ‘Chamber of Municipalities’.
The Luxembourg Institute of Health announced a new biomarker-based technology.
A voice recording of people with Covid-19 can be used to monitor the progression of the disease’s symptoms.
It could become a simple way for healthcare practitioners to provide at risk-patients with immediate help.
The research project was led by Dr Guy Fagherazzi.
Related: 1 in 5 residents of the Fondation Pescatore, a retirement home in Luxembourg City, tested positive for Covid-19 recently.
More Luxembourg stories below ‘in case you missed it’.
The bank increased 3 key rates all by 75 basis points to 1.5%.
President Lagarde confirmed the bank will raise interest rates further.
Inflation in the Eurozone stood at 9.9%, compared to a year ago.
This is the second consecutive hike of this magnitude. The move could prove painful for the Eurozone which is already feared to be on the brink of a recession. Prices across the continent for a basic loaf have never been higher.
Political Criticism: Italy’s new PM Giorgia Meloni had criticised potential rate increases earlier this week. Her remarks nearly echoed those of France’s president Emmanuel Macron, who had shared that he was worried about central banks “smashing demand” in their efforts to tackle inflation.
Interest rate hikes will stabilise economy in the medium term according to the Governor of Luxembourg’s Central Bank: Gaston Reinech.
Comment: The ECB was among the last to begin raising interest rates. Now it’s acting decisively to catch up.
Sunak is a practising Hindu and at 42, Britain’s youngest leader since 1812
The new PM retained Jeremy Hunt as Chancellor of the Exchequer
Rishi Sunak brought back a ban on fracking in first PMQs, undoing the work of Liz Truss.
Rishi Sunak had lost out to Ms. Truss in the party leadership campaign over the summer by over 20,000 votes.
Labour Party Chair Anneliese Dodds said thathe ‘doesn’t have a mandate’ to govern.
The Ministry for the Environment, Climate and Sustainable Development presented a new communication campaign that focuses on the promotion of protected Natura 2000 zones in Luxembourg.
Xavier Bettel met with Bill Gates in Luxembourg. Gates was here on a working visit to the European Investment Bank.
The Prime Minister and the Minister for Tourism Lex Delles headed to Italy on Wednesday, with Bettel expected to meet the Pope on Saturday.
ACL membership fees will rise significantly for the first time in 13 years in 2023. For coverage in Luxembourg, fees will rise from €49 to €69, and from €89 to €119 per year for European coverage.
German Chancellor Olaf Scholz on Thursday rejected Turkish claims on the sovereignty of Greek islands, at the start of an official visit to Athens.
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Christos Floros covers News and Politics for RTL Today @christosfloros
