Three billion euros for Luxembourg’s social security

Luxembourg’s social security will receive a financial envelope of three billion euros in 2017. That’s according to the draft state budget details recently released.

This figure was revealed by Social Security Minister Romain Schneider after a meeting with the members of the Commission of the Work and Finance.

According to the latest numbers, social security should show a surplus of 883 million euros in 2017, that’s 34 million more than this year.

The state budget for 2017 includes an expenditure in the order of 18 billion euros and an expected revenue of 17 billion. The deficit will be around 984 million euros by the end of next year, or about 1.7% of Luxembourg’s Gross Domestic Product (GDP).

The state budget for 2017 is under discussion throughout this week in Luxembourg Parliament. Current information received shows that, according to the schedule of parliamentary work, the draft budget bill should be voted on in December.