The Medium-Term Economic Impact of COVID-19 in Luxembourg

Michal Burzynski

The Medium-Term Economic Impact of COVID-19 in Luxembourg

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Résumé

The economy of Luxembourg has been drastically affected by the COVID-19 pandemic in 2020. STATEC reports a slump in gross domestic product (GDP) by more than 7% in the second quarter of 2020 (2Q2020), while the unemployment rate is expected to increase from 5.6% to 6.5% by the end of 2020. As the spread of COVID-19 continues, hundreds of new cases are reported every day in Luxembourg, and infections skyrocket in all European Union (EU) member states. The chances of improving the economic prospects in the coming months are slim, as authorities in many countries implement mild lockdowns. In this policy brief, we quantify the mediumterm economic implications of the COVID-19 crisis, with a focus on the economy of Luxembourg.

langue originale	Anglais
Editeur	LISER
Nombre de pages	4
Lieu de publication	Esch-sur-Alzette
état	Publié - 17 déc. 2020

Série de publications

Nom	Policy Brief
Editeur	LISER
Numéro	11
ISSN (Electronique)	2716-7437

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Policy Brief

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Fonds National de la Recherche, Luxembourg Institute of Socio-Economic Research LISER
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Projet: Recherche

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The Medium-Term Economic Impact of COVID-19 in Luxembourg

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MODVid: Migration policies and increased migration pressure after COVID-19

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