Budget deficit of 630 million euros in Luxembourg
Фото: Towfiqu barbhuiya, Unsplash
This amount appears in the report of Finance Minister Gilles Roth. According to the politician, the figure is higher than expected and will continue to rise due to the upcoming costs of support measures and support for the construction sector.
It is the latter that has hit the Grand Duchy's finances the hardest. Only 45% of the expected number of registrations were received, a shortfall of 253 million euros. All this is due to the difficulties in the construction sector and the real estate crisis.
At the same time, the situation is stabilized by the taxes of residents and companies. The number of deductions from income tax increased by 22%, from personal income tax by 19%, and from real estate tax by 30%.
