Budget 2025: Court of Auditors criticises debt management

The Court of Auditors (Cour des Comptes) on 26 November issued its opinion on the draft law on the state revenue and expenditure budget for 2025 and the draft law on multiannual financial programming for the period 2024-2028. The opinion deplores the tripling of the country’s debt since 2008 and, above all, the lack of “any strategy to rebalance the budget in the short and/or medium term.” “As a small, open economy, Luxembourg is particularly exposed to external shocks and must therefore have more budgetary room for manoeuvre than large, less vulnerable economies,” says the Court of Audit. In view of the increasing number of geopolitical and environmental crises, it notes that “it would be useful for the government to devise…