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2019 OECD Economic Surveys: Luxembourg 2019

image of OECD Economic Surveys: Luxembourg 2019

Luxembourg is one of the most prosperous economies in the OECD. However, prosperity and quality of life cannot be taken for granted. This Survey focuses on three main challenges. The first concerns housing: strong population growth and supply constraints have made prices surge, which worsens affordability and creates vulnerabilities for some households and some banks. Tackling housing supply constraints and increasing the supply of social rental housing are key to improving housing affordability. The second challenge is reviving productivity growth, which will require supporting viable non-frontier firms to catch up and to help frontier firms to innovate more. The third challenge is to achieve a more sustainable and inclusive growth. This would require, among other measures, fiscal reforms to address rising pension expenditure and tilt revenues towards environmental and property taxation.

SPECIAL FEATURE: HOUSING

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Basic Statistics of Luxembourg, 2018

(Numbers in parentheses refer to the OECD average)*

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Luxembourg were reviewed by the Committee on 6 May 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 22 May 2019.The Secretariat’s draft report was prepared for the Committee by Álvaro Pina, Jan Strasky, and Christina Timiliotis, under the supervision of Pierre Beynet. The Survey also benefitted from consultancy work by Guillaume Claveres. Statistical research assistance was provided by Paula Adamczyk and editorial support was provided by Poeli Bojorquez.The previous Survey of Luxembourg was issued in June 2017.

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