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Luxembourg : Strong public finances, AAA rating reconfirmed

Published Monday March 07 2022

Two years after the onset of the pandemic, the economic outlook in Luxembourg remains favourable. In 2021, the country enjoyed an economic growth of 7% and tax revenues increased by 16.3%. Also the AAA rating of the economy has just been reconfirmed in early 2022 by three of the leading credit rating agencies including  S&P Global Fitch  and  DBRS Morningstar

Recently appointed Finance Minister, Mrs. Yuriko Backes comments “The double confirmation of our ‘AAA’ rating underlines the soundness of the government's economic and budgetary policy before and during the health crisis. Luxembourg continues to remain attractive for companies and investors despite an uncertain international context.”

The positive evolution is also shown by the continuous fall in the unemployment rate, despite ongoing uncertainty with the pandemic.

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