Luxembourg: 2022 Article IV Consultation-Press Release; and Staff Report for Luxembourg

Volume/Issue: Volume 2022 Issue 152

Publication date: June 2022

ISBN: 9798400210563

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , money market rate , IMF staff calculation , Luxembourg's currency , executive board assessment , liability positions vis-a-vis nonresident , Labor markets , Housing , Housing prices , Loans , Income , Global , Europe

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Summary

Real GDP surpassed its pre-pandemic trend in early 2021, and the labor market is tight. Inflation is increasing, mainly driven by energy prices, but core inflation is also edging up. The fiscal position strengthened and the financial sector has remained resilient. Rapidly growing housing prices raise concerns about affordability and could pose risks for financial stability and the country’s attractiveness in the medium term. Following the outbreak of war in Ukraine, inflation pressures have intensified and financial market volatility has risen.