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      Luxembourg only EU Member State to register a government surplus

      Luxembourg only EU Member State to register a government surplus

      According to latest Eurostat figures, Luxembourg was the only EU Member State to register a government surplus in 2013, accounting for 0.1% of GDP. The maximum of 3% budget deficit defined in the Maastricht treaty were surpassed by ten member states. Luxembourg also had the second lowest government debt in the Eurozone (23.1%).

      Compared to 2012, the government debt situation of both the European Union and the Eurozone is on its way to recovery, decreasing from an average 3.7% to 3.0% in the EU respectively from 3.9% to 3.3% in the EU28. However, government debt ratio increased between 2012 and 2013 (from 90.7% to 92.6% in the Eurozone and from 85.2% to 87.1% in the EU28).

      The latest figures once more underline Luxembourg’s stable economic situation – one of the fundamentals of the success of Luxembourg’s financial centre. As one of the few remaining European countries, Luxembourg is still AAA rated.