DBRS Morningstar confirme le „AAA“ du Luxembourg

The Luxembourg Ministry of Finance issued a press release, informing that DBRS Morningstar has confirmed the „AAA“ rating of the Grand Duchy of Luxembourg, with a stable outlook.
Indeed, despite the current inflationary pressures causing a deterioration of the global economic situation, the agency considers that the fundamentals of the Luxembourgish economy remain strong. This is supported by the good performance of the labor market and measures taken as part of tripartite meetings, leading to a real GDP growth rate of 1.5% in 2022.
The agency emphasizes that the three solidarity packages have helped to maintain purchasing power and support household consumption. It is optimistic about the continued growth of the national economy in 2023.
The agency notes that the budgetary situation has deteriorated less than expected, despite the impact of support packages on public finances in 2023 and 2024. Therefore, the agency considers that the country still has room for maneuver to face future challenges.
DBRS Morningstar also observes that the level of public debt in Luxembourg remains among the lowest in Europe, despite a moderate increase in debt expected in the medium term. The agency highlights the government’s commitment to maintaining public debt below 30% of GDP.
The agency emphasizes the importance of the high quality of the institutional framework and the stable political environment in its analysis. It also highlights the strong attractiveness of the financial center, thanks to its highly qualified workforce and a solid legal and regulatory framework.