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HarryGibson Offline

Beiträge: 6

01.11.2022 15:43
Economy of Luxembourg Antworten

Luxembourg is considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, Luxembourg is able to offer its citizens social services such as public education, health care and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Luxembourg exports about US$15.8 billion and imports about US$23.12 billion each year. 5.3% of the country's population is unemployed. The total number of unemployed in Luxembourg is 31,287. In Luxembourg, 15.8% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Luxembourg is quite high, but nothing to worry about when it comes to investing. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 2.6% of GDP. The country's Gini index is 30.8. Luxembourg experiences good equality. The majority of citizens in Luxembourg fall within a narrow income bracket, although some cases can show significant differences. Luxembourg has a Human Development Index (HDI) of 0.881. Luxembourg has a very high HDI value. This suggests that almost all citizens are able to live a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to rise in society. The strength of the legal index for Luxembourg is 3. Overall, it is considered rather insufficient – ​​bankruptcy and collateral laws can protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient but scarcely available, or conversely, available but not sufficient.

The currency of Luxembourg is Euro. There are several plural forms of the name "euro". These are euros, euros. The symbol used for this currency is €, abbreviated to EUR. The euro is divided into cents; 1 euro is 100.

Credit rating
According to the rating agency S&P, Luxembourg has a credit rating of AAA and the prospects for this rating are stable. According to the rating agency Fitch, Luxembourg has a credit rating of AAA and the prospects for this rating are stable. According to the rating agency Moody's, Luxembourg has a credit rating of Aaa and the prospects for this rating are negative.

Central bank
In Luxembourg, the institution that manages the state's currency, money supply and interest rates is called the Central Bank of Luxembourg. Locally, the central bank of Luxembourg is called the Banque Centrale du Luxembourg. The average deposit rate of local banks in Luxembourg is 3%.

National debt
Luxembourg has a public debt equal to 53.2% of the country's gross domestic product (GDP) as estimated in 2012.

Tax information
Corporate income tax in Luxembourg is 29.22%. Personal income tax ranges from 6% to 52.45% depending on your specific situation and income level. VAT in Luxembourg is 17%.

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