Luxembourg’s revenue growth faster than spending

The National Public Finance Council (CNFP) announced on Monday morning at the Court of Auditors, their new assessment of public finances in relation to the budget for 2017 as well as the ongoing annual financial forecast for the period 2016-2020.

The negative balance of central government has been reduced in the first three quarters of this year and therefore confirms the optimistic forecasts of Finance Minister Pierre Gramegna for 2017.

There has been 43.5 million euros less of expenditure this year so far compared to 2015, although the current negative balance is still 208 million.

However the trend does reveal that revenue is growing faster than spending.

In addition, indirect investments increased by 26% from September 2015 up to November this year, which works out at around 234 million euros.