According to analysis by the rating agency Standard & Poors, Luxembourg is in a stable economic position to cope with the repercussions of the Coronavirus, says the Ministry of Finance in an official statement.
The Grand Duchy disposes of the necessary means to take up the economic challenges of the Coronavirus, even if the situation was to get worse. S&P particularly highlights the positive status of the public finances, thanks to the budget surplus recorded in the last two years and the low level of public debt.
In the long run, the impact on the country's economy should be limited and the fundamentals of a good economic growth remain unchanged. The agency does, however, plan an improvement in terms of economic growth in the second semester, which will go hand in hand with the mitigation of the epidemic and an economic rebound as of 2021.
