In response to the economic challenges arising from the coronavirus crisis, the Luxembourg government announced on 25 March 2020 the launch of a massive stabilisation programme for the national economy. Measures for a total of €8.8 billion will help companies face the immediate shortage of cash and maintain employment.
Prime Minister Xavier Bettel outlined the content of the stabilisation programme, which includes different measures adding up to a budget of €8.8 billion, or over 14% of GDP. The initiative testifies to the government’s firm determination to support the national economy. According to the Prime Minister, it is made possible by Luxembourg’s “very performing economy and strong finances”.