2020 budget
Central bank warns of housing and pension risks
Budget meets EU rules, but government needs to address effects of growing population
Luxembourg faces "heavy and serious consequences" if it fails to address its real estate crisis, central bank governor Gaston Reinesch told parliament on Monday while reviewing the government's 2020 budget.
Speaking to the finance committee, Reinesch said that the 2020 budget meets European Union debt and deficit rules, but he also warned of several medium and long-term challenges.
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