Luxembourg's finances compare well on debt and deficit
Luxembourg's low annual deficit spending and manageable debt gives it an enviable position as the EU pushes for a post-pandemic return to government spending limits, data released on Monday by the bloc's statistics agency showed.
Luxembourg had the lowest debt in the EU, except for Estonia and Bulgaria, at the mid-point of this year, the Luxembourg-based statistics agency Eurostat said.
That debt, measured in relation to each country's gross domestic product, fell further in July to 24.7% of GDP after Luxembourg repaid a €2 billion bond, the Finance Ministry reported at the time.
That was far below the eurozone average 90.3% of GDP, which was skewed by debt ratios of 166% in Greece, 142% in Italy, 112% in France and 106% Belgium, Eurostat found.
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