Luxembourg's Economy Minister, Henri Grethen denied last week that the jurisdiction is in recession, although he did admit that revised growth figures recently issued by Statec (the state statistics office) were 'cause for concern'.
Speaking at a press conference last week, the Luxembourg News service reported, Mr Grethen refuted the suggestion that the fact that economic growth last year was revised down from 3.5% to 1% after Statec adopted new, apparently more accurate, analysis methods means that Luxembourg is currently in a recession.
However, he told reporters that the economy is currently in something of a fragile state, and cited its heavy reliance on the finance sector and a few large national players as part of the problem.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment