The Idea Foundation (Fondation Idea) presented its annual report on Wednesday morning.
The economists examined economic and political current events and concluded that the situation is better than expected.
The foundation's senior economist Michel-Edouard Ruben explained that current risks are ones that we have been aware of for a longer time, citing protectionism and Brexit. He then went on to point out that statistics suggest there is no true recession at this moment in time.
The state deficit and the number of unemployed people in Luxembourg are due to fall. However, Ruben did stress that if one of the named crises occurred, Luxembourg would also be affected.
The Grand Duchy's economy remains a small and open one liable to be influenced by international events.
The foundation echoed Statec's predictions, which is that unemployment will fall and Luxembourg's economic growth for 2019 will be 3%.
