Luxembourg could face recession in 2012
Statec director Serge Allegrezza warned that Luxembourg could slide back into recession this year at Thursday's “Journée de l'économie,” while economy minister Etienne Schneider spoke of stagnation.
(CS) Statec director Serge Allegrezza warned that Luxembourg could slide back into recession this year at Thursday's “Journée de l'économie,” while economy minister Etienne Schneider spoke of stagnation.
“In 2012 several countries in the eurozone will enter a recession. I fear that Luxembourg is among them,” said Allegrezza. Until recently Statec had predicted a minimal growth for the year. However, this outlook had to be scaled back, as a decline in national economic perfomance for two quarters is on the horizon.
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