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Luxembourg Registers New Economic Performances

Written by: Bridgewest

Luxembourg is one of the best countries to do business in Europe at the moment, according to the Euro Plus Monitor released at the end of 2016. The survey places Luxembourg on the second place in terms of overall economic health at European level. This comes after the Grand Duchy was rated AAA by the DBRS credit rating agency. If you are interested in investing in the Grand Duchy, our law firm in Luxembourg can assist you in opening a company here.

Luxembourg ranks second in terms of economic health in Europe

The Euro Plus Monitor measures economies in all European countries every year for six years now and it is based on several elements and then compiles the data and releases a report which is very useful for foreign investors interested in a particular country.

In last year’s survey, Luxembourg ranked second with an overall score of 7.5 out of 10. Broken down into sub-indexes, Luxembourg ranked first in terms of sustainability of public finances and third in terms of competitiveness. Luxembourg also ranks fourth when it comes to the adjustment of the dynamic of the wage costs.

DBRS awarded Luxembourg the AAA rating

It seems as the Euro Plus Monitor’s ranking is backed up by the credit rating agency DBRS which is the fourth large agency to give Luxembourg the AAA rating with a stable outlook. This was the first time DBRS analyzed Luxembourg’s economic performance and it rated the Grand Duchy just like Standard and Poor’s, Moody’s and Fitch which is great news for the country especially since the rating it is independent and not based on other previous ratings.

DBRS’ rating shows Luxembourg has one of the lowest public debts in the EU and the situation will remain the same for the years to come. The agency predicts a public debt below 25% for the following 5 years. Tax reforms were the main reason for DBRS’ rating. The agency also commended Luxembourg for the quality of the financial sector and mostly of its supervision by the CSSF, the attractiveness for foreign investment and the good governance of the economy. DBRS also predicted an average 3.5% economic growth per year.

For information on the legislation on foreign investment in the Grand Duchy, please contact our lawyers in Luxembourg.