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EMU: COMMISSION TO ASSESS ANOTHER SIX UPDATED CONVERGENCE/STABILITY PROGRAMMES.

Publication: European Report
Publication Date: 01-FEB-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Luxembourg.

The Commission considers that the stability programme presented by Luxembourg is based on a "credible macro-economic scenario, though perhaps a little optimistic towards the end of the period" (whereas the Commission is anticipating growth of 4.5% in 2007, Luxembourg is projecting a figure of 4.9% in 2007 and 2008). In its Recommendation to the Council, the Commission suggests that Luxembourg's budgetary position appears "sufficiently sound to ensure that medium-term objectives are achieved by 2008, provided the measures announced for 2007 and 2008 are specified and properly implemented". The Commission believes there is a risk of Luxembourg's deficit overshooting the 3% of GDP threshold in 2006. Regarding the sustainability of public finances, the Commission considers that...

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