Gilles Roth, Luxembourg's Minister of Finance;
Credit: Chamber of Deputies - ChD
Luxembourg's Ministry of Finance has reported that the Chamber of Deputies (parliament) approved the state budget for 2025 on Thursday 19 December 2024, following a day of debates in plenary.
The budget, presented by Finance Minister Gilles Roth in October 2024, is entitled "Kurs op muer. Ee Muer fir Jiddereen" ("Towards a tomorrow for all" in English).
In the context of its approval, Luxembourg's Minister of Finance once again explained the main points of the 2025 budget - a budget "still marked by a difficult geopolitical context" and which is "based on a macroeconomic scenario in line with the forecasts of the European Commission".
Minister Roth elaborated: "With this budget of a sustainable and social financial policy, we are strengthening the country, its citizens and its companies. With more purchasing power for all and high investments in the future. For more social cohesion, more growth, more prosperity and well-being for all."
As reported by the ministry, the 2025 budget reflects the government's political priorities for the next twelve months, focusing on social cohesion with social transfers amounting to 47% of the budget and substantial tax breaks for all, targeted aid for the most deprived, and high investments, in particular in housing, mobility, public infrastructure and the protection of nature and the climate.
The 2025 budget is also placed under the sign of a more competitive economy with a reduction in income tax for communities and support measures for employees, including in terms of talent attraction.
In his speech, Minister Roth also announced that the results of the state budget for 2024 would "probably" result in a central government deficit of under €500 million - "a clear improvement on previous estimates and encouraging news for the years to come", according to the ministry.
