Ratings agency, Moody’s, has confirmed Luxembourg’s AAA credit rating, giving it a stable outlook.
In its analysis, Moody's emphasised that Luxembourg's economy is maintaining growth rates above the euro area average and that of many other countries with AAA status.
The agency also said that Luxembourg’s budgetary position is among the strongest of the AAA countries, noting in particular improved public finances over the last three years, and looking forward to continuing positive trends. The agency projected the level of indebtedness to be 23% in 2017.
Luxembourg’s minister of finance, Pierre Gramegna, welcomed the news.
"This confirmation of the AAA is good news for Luxembourg, which further strengthens its economic attractiveness and thus contributes to the creation of new jobs. Moody's analysis shows that maintaining the 'AAA' with stable outlook is not a given, but the result of well-founded policy choices. Our public finances are strong and allow us to look to the future with confidence."
