The rating agencies stressed that Luxembourg's public finances were healthy and sustainable, and the pillars of Luxembourg's economy stable. The finance sector represents the engine of national growth, and keeps performing well. The agencies cited green finances and digitisation as two positive trends in the sector.
The repercussions of Brexit and coronavirus may pose challenges in the future but Luxembourg should have the capacities to deal with potential problems, the agencies concluded.
Minister for Finance Pierre Gramegna welcome the excellent rating and said that they were "synonymous with the solidity of our country's economy." He added that the analyses proved that Luxembourg was well-prepared to face the complexities of a potentially feverish economic situation, and to further pave the way for sustainable investment as well as smart and inclusive growth.
