Economy à la luxembourgeoise!

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Image par 3D Animation Production Company de Pixabay

It’s going down the mountain in Luxembourg! When you look at Statec’s figures, dark times await us! Public revenue (thus from the state) is no longer rising by 7 percent this year, but by just 3 percent. That sounds really creepy! Other countries are quite happy if they do not slip too deep into the basement (that of finance), we almost already clap our hands together when growth is below half a dozen percent. The GDP also clearly drops: from 3.1% year-on-year to 2.4% the other year. The labor market is clearly climbing by 3.2%, and at the end of the century we want to reach the 2.4 million state.

And to show how bad our situation is, public investment spending is exploding: already this year, there has been a jump of 11 percent (eleven! You read right!), And so should the second year looking forward. It is so massively invested that it becomes more and more complicated for individuals to find a craftsman and understandable delays. In other words: what happens economically in the UK if the investment is returned if the state no longer invests 11%, but still “only” 4%? That would still be an honorable result, but some “spoiled” employers would respond! Even now, the morale of the employer is going to the gods, but Statec is not talking about a downfall ..

And there is hope! After all, there is eventually the real estate market, and that is not to be overlooked: in the third quarter there was a rise in mortgage lending in the order of 8.5%. With all these negative prospects, there is also something positive: on 1 January an index tranche will happen – although this is also a negative part of the economy, after all it will be about 2.5% more expensive! All these figures clearly show: our economy is going so badly that Economy Minister Etienne Schneider almost has to resign. Or, hopefully, is it not the case that the economy is doing so well that the Minister of Economy is redundant ?!

The motivation to withdraw is also quite another: Etienne goes, because in his opinion it is time to find his own life again; but also with the notion that in the last parliamentary elections he and his party were anything but plebiscite – it was also just a loss of the trunk of three seats! A finding that others had already made about the election, but which the comrades did not then wish to realize, for the simple reason that one wanted to join the government bed again. For Etienne, this means:after the elections, be part of the government for one single year, then resign and in May  be the successor of Jeannot Krecké on the board of ArcelorMittal resigns. Bad damage to the image of this politician, who in the first year of Gambia 1 was an extremely important support for the new Prime Minister Xavier Bettel.

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