65104
EC Wants Luxembourg to Remove Investment Barriers
EC Wants Luxembourg to Remove Investment Barriers

EC Wants Luxembourg to Remove Investment Barriers

EC Wants Luxembourg to Remove Investment Barriers

The European Commission said that Luxembourg should remove barriers to investment and innovation, remove regulatory restrictions in the business services sector and act on its pension system.
These recommendations for Luxembourg were published by the Commission on Monday in the framework of the European Semester—the EU’s annual cycle for economic policy coordination. The recommendations will have to be adopted by the European Council, euobserver reported.
While the commission generally agrees with Luxembourg’s current economic policies and merely issued two recommendations for the Grand Duchy, its criticism targeted some areas that it says Luxembourg has been neglecting for some time.
Overall, the commission believes that the ‘’the macroeconomic scenario underpinning (Luxembourg’s) budgetary projections in plausible,’’ but that the country was too optimistic in its 2018 projections and too pessimistic in its 2021 projections.
The first major concern for the commission is related to ‘’long-term fiscal sustainability (…) given the projected increase of ageing costs.’’ The commission expects Luxembourg’s pension system to record a negative balance from 2023.
Possible future problems with the pension system have been under discussion for some time in Luxembourg. Especially the age structure in the society are a matter of concern and recently revised Eurostat population projections lead the commission to believe that a fast increasing dependency ratio will lead to a higher projected increase in public expenditure for pensions.
Luxembourg is the only EU member state where no increase in the statutory retirement age has been laid down for the period between 2013 and 2060, despite the fact that it has the union’s highest projected increase in the share of dependent population by 2060.
 

 

Short URL : https://goo.gl/OTPAQs
  1. https://goo.gl/eCExOw
  • https://goo.gl/4BKWyD
  • https://goo.gl/kzOn71
  • https://goo.gl/NrFYw1
  • https://goo.gl/97tPyj

You can also read ...

Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus