Corona Virus

Opinion of the Chamber of Commerce on the Government draft budget - Uncertainties, deficits, resilience, recovery

Christel Chatelain, Head of Economic Affairs of the Chamber of Commerce and Carlo Thelen, Director General of the Chamber de Commerce

Uncertainties, deficits, resilience, recovery

On 14 October, the Government presented its 2021 draft budget,  accompanied by a   multi-year draft budget, in a peculiar environment, to say the least, with expenditures exploding as a result of aid measures and sharply declining revenues. Central government spending in 2020 is set to exceed the amounts budgeted last year by EUR 2 billion, while public revenue is meant to fall by some EUR 2.5 billion in 2020, compared to the amounts in the 2020 draft budget, against the backdrop of a 6% decline in real GDP in 2020. The result  is  a  central  government  deficit  that  could  exceed  EUR 5  billion  in  2020.  Even  with  a  mechanical economic rebound in 2021, this deficit is expected to remain high, at EUR 2.5 billion in 2021. The public debt, for its part, would be 27.4% of the GDP in 2020 and could reach 29.4% of the GDP the following year. This w ould surpass what is considered the ‘ government norm’  of 30% as early as 2022

Click here to read more

Livestream - La Chambre de Commerce présente son avis sur le projet de budget de l'Etat from Luxembourg Chamber of Commerce on Vimeo.

AVIS BUDGETAIRE 2021 from Luxembourg Chamber of Commerce on Vimeo.


House of Entrepreneurship
Opening hours : monday to friday : 8:30-12:00 and 13:00-17:00
Tel : ( +352 ) 42 39 39 - 330
Email : info(at)

Physical address
14, rue Erasme
L-1468 Luxembourg-Kirchberg
Access map

Postal address
BP 3056
L–1030 Luxembourg

Initiated by

Chambre de Commerce Ministère de l'Économie

In partnership with

1535°, ADEM, Administration de l’Environnement, Chambre des Métiers, Digital Lëtzebuerg,, ITM, IPIL, LBAN, LBR, Luxinnovation, MC, nyuko, Paul Wurth InCub, SNCI, Technoport, Ministère des Affaires étrangères et européennes, Ministère de la Santé, Ministère de la Digitalisation - CFUE - Betriber & Emwelt - LIST.

And with the support of various players