The cook-off organised by the City of Luxembourg is a subtle reminder that when life gives you lemons, you make lemonade… well maybe this time something more special to celebrate National day followin...
The International Monetary Fund has recommended further reform of Luxembourg’s urban planning rules, while pointing to positive developments such as increased construction of social housing units. Library picture: An affordable housing construction site in Kirchberg, 2 November 2020. Photo credit: Matic Zorman
“Modernising the rigid urban zoning/planning and updating the communal development legislation to increase the supply of buildable land,” is a “pressing” requirement in Luxembourg, says the International Monetary Fund in its annual report on the grand duchy.
There was praise for moves to increase the supply of rental and social housing, and efforts to discourage property speculation. But more can be done, with the report citing a “disproportionate impact of the pandemic on vulnerable groups, in conjunction with rising house prices”.
Otherwise, the IMF had praise for how “Luxembourg has managed the covid-19 pandemic relatively well thanks to a vigorous policy response,” adding that “the economy, dominated by financial services, adapted quickly to teleworking.” Thus after negative growth of 1.3%, the Washington-based institute forecasts the economy will expand by 4.5% this year; a figure slightly higher than Statec’s prediction.
“Fiscal policy should remain supportive until a firm recovery is underway, increasingly focusing on the most vulnerable as the recovery gains speed,” they went on. They called for this to be focused on “greening the economy and maintaining high levels of public investment to close infrastructure gaps.”