On 16 January 2015, Fitch confirmed Luxembourg’s long-term foreign and local currency Issuer default ratings at AAA with stable outlook, saying that the country’s public finances are a “key rating strength”. The agency also sees Luxembourg’s wealthy economy, high degree of trade openness, and strong, stable institutions as important assets of a balanced environment.
Fitch noted in particular the favourable economic trends in the country, with a higher average growth than in the rest of the Eurozone. Fitch estimated GDP growth for 2015 at 2.3 percent to accelerate to 2.7 percent next year. Inflation meanwhile is expected to be at 1.5 percent this year.
Luxembourg’s Finance Minister, Pierre Gramegna, said: “The AAA rating is a guarantee of stability and confidence in the Luxembourg economy. It guarantees the country’s attractiveness to investors and the creation of new jobs”.
As a result, Luxembourg continues to benefit from the best credit ratings from the leading rating agencies.