Luxembourg City town hall;
Credit: Jazmin Campbell
Luxembourg's Ministry of the Interior has presented the country's municipal finances for 2021.
The superior council of municipal finance within Luxembourg's Ministry of the Interior concluded that the financial situation of the Grand Duchy's municipalities is stable overall.
In 2021, the accounts of municipal business taxes and the global municipal endowment fund increased by €270 million compared to the previous year.
At €2.39 billion, these accounts even exceeded those of the record year of 2019, thus putting it back on its pre-pandemic trajectory.
Luxembourg's Minister of the Interior, Taina Bofferding, commented: "These figures show that as of today municipal finances are resilient, that they have been able to absorb various crisis-related influences relatively well and are well positioned for the future, subject to current international developments".
The Ministry of the Interior confinues to offer financial advice to entities in the municipal sector.
Moreover, quarterly exchanges between the larger municipal entities and the ministry's finance department allow for an exchange of "best practices".
