Government net lending/borrowing in Luxembourg

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -1.2% 2027: -1.2% 2028: -2.4% 2029: -2.7% 2030: -2.9% 2031: -3.1%

3.2 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	3.2
Jan 1998	3.0
Jan 1997	2.7
Jan 1996	2.4
Jan 1995	2.7

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Measures the balance of Luxembourg's general government accounts: a surplus when revenue exceeds spending, a deficit when the reverse holds. Published by the statistical office STATEC as a percentage of GDP.

How it's calculated

Calculated as general government net lending or borrowing under ESA 2010, validated by Eurostat, and expressed relative to GDP. It is the reference figure for the Maastricht 3% deficit ceiling.

Market implications

Luxembourg typically runs a surplus or very small deficits, underpinned by a strong financial sector and low public debt. As a small, open economy, the balance can swing with revenue tied to corporate and fund taxation.

Limitations

It is a low-frequency series prone to revision. In such a small economy, one-off operations or shifts in financial-sector revenue move the ratio sharply, so the primary balance and cyclical component are worth isolating.