Category: _In English_
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An electoral year in a context like no other
Forecasting is not an exact science, but in economics it is an indispensable exercise. Anticipating trends in order to make the best decisions (especially political ones) at the right time is of the utmost importance. The work of prediction draws on the lessons we have learned from the past and the challenges posed by the…
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The promotion of foreign trade and internationalisation of Luxembourg companies in a changing world – some reflections on the background
Luxembourg’s economy is distinguished by being extremely open internationally (share of exports and imports in GDP) and, on the basis of this indicator, ranks among the most open in the world (as are Singapore, Hong Kong, etc.). This is explained by the considerable weight in its foreign trade of exports of services, nearly 50% of…
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Budget 2023: truly responsible, realistic and supportive?
While the budget for 2021 was necessarily exceptional because of the COVID-19 crisis, it seems that the exception is becoming the rule in these turbulent times. This was confirmed by the Finance Minister’s speech entitled “A crisis budget in a time of crisis” when tabling the 2023 financial year State budget bill (and the multi-annual…
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National Reform Programme, National Stability Programme, Technical Review of the General Pension Insurance Scheme: A good time to take a look at the country’s challenges
Being an economic analyst in these times is a challenge. And for good reason: in recent months, the global economic situation has been riddled with a series of significant shocks that have regularly changed forecasts. After, ‘everything depends on vaccination rates’, and ‘everything depends on price trends’, came, ‘everything depends on the situation in Ukraine’.…
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Moving from a linear economy to a circular economy
Russia’s recent invasion of Ukraine on 24 February has led to a further surge in energy and commodity prices. The price of a barrel of Brent crude oil has quickly gone above USD 100, the first time this has happened since 2014, reaching almost USD 150 at the start of the 10th week of the year. As…
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A rise in prices for the long haul
With an annual inflation rate[1] estimated at 4.1% in December 2021 and 3.6% in January 2022[2] by STATEC, the rise in prices continues at a sustained rate, threatening the consolidation of the Luxembourg economy and weighing on the costs borne by companies. The effect on their competitiveness is undeniable, with the latter seeing their margins…