On Friday 22 November 2024, the rating agency Fitch Ratings reaffirmed Luxembourg's "AAA" credit rating with stable outlook.
As reported by Luxembourg's Ministry of Finance, this rating reflects the solid fundamentals of Luxembourg's public finances with a low level of public debt and controlled budget balances.
According to Fitch Ratings, economic growth in 2024 is driven by the continued strengthening of private consumption, supported among other things by new government measures and wage indexation. An improvement in the external environment and a further recovery in export services related to investment funds and a higher volume of transactions in the financial sector are expected to boost growth in 2025.
The rating agency also expects better budgetary results in an economic context that remains volatile.
