Continued Economic Growth Predicted In Liechtenstein
The new Liechtenstein Business Cycle Research Institute (Konjunkturforschungsstelle
Liechtenstein, or KOFL) earlier this month published its first business cycle
analysis and economic forecast for 2005, and predicted that exports will be
the driving force of predicted economic growth. KOFL based its first analysis of the business cycle situation in the Principality
of Liechtenstein on an overview of the international economic environment. The Institute projected that the economic recovery begun in 2004 will continue
in the coming year, albeit with a slightly weaker growth rate, and suggested
that the good business cycle situation also sends positive signals for employment,
which this year saw an increase of 1.3%. Based on this development and the estimates
of entrepreneurs, KOFL predicted an employment increase of 1.2% for 2005. According to the KOFL analysis, the main driver of economic growth has been,
and will in 2005 continue to be the export industry. The Institute suggested
that direct exports will increase significantly by 9.1% in the current year.
However, due to flagging global economic dynamics, it forecast a reduction to
4.6% for 2005. A comprehensive report in our Intelligence Report series giving background tax and residence information on many of the key offshore jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp
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