On 24 May 2024, the rating agencies Fitch Ratings and Scope Ratings confirmed the Grand Duchy's 'AAA' rating with a 'stable' outlook.
The two agencies have once again confirmed the country's sound financial position, thanks to its solid economic fundamentals and prudent budgetary management. However, Fitch Ratings and Scope Ratings highlight the challenge that age-related fiscal pressures will present in the future.
The Fitch rating reflects an economy with an exceptionally high per capita income and governance indicators above the median for 'AAA' sovereign states, as well as a low debt ratio. Scope's rating highlights the country's rich, high value-added economy, solid financial situation and robust external position, all of which have contributed to Luxembourg's economic resilience and ability to cope with shocks.
Both rating agencies now expect a similar economic recovery in the medium term.
Press release by the Ministry of Finance