The Luxembourg Government’s ambitious stabilization package for the national economy is set to mobilize €8.8 billion, equivalent to 14% of Luxembourg’s GDP.
The stabilization package builds on four key pillars:
- Responding to immediate liquidity requirements
- Facing cashflow difficulties
- Facilitating corporate borrowing through state guarantees
- Maintain employment
Minister of Finance Pierre Gramegna, Minister of the Economy Franz Fayot, and Minister for Small and Medium-Sized Enterprises Lex Delles presented Luxembourg’s ambitious stabilization package on Wednesday, March 25.
Minister of the Economy Franz Fayot stressed that the government would go the extra mile to make sure that no company or employee is left out in the rain. The stabilization package may be adapted depending on future developments and evaluations.