COUNCIL OPINION
of 18 January 2005
on the updated Stability Programme of Luxembourg, 2004-2007
|
2004 |
2005 |
2006 |
2007 |
|
Real GDP (% change) |
SP Nov 2004 |
4,4 |
3,8 |
3,3 |
4,3 |
COM autumn 2004forecast |
4,0 |
3,5 |
3,6 |
n.a. |
|
SP Nov 2003 |
2,0 |
3,0 |
3,8 |
n.a. |
|
HICP inflation (%) |
SP Nov 2004 |
2,6 |
3,2 |
1,5 |
1,7 |
COM autumn 2004 |
3,0 |
2,3 |
1,6 |
n.a. |
|
SP Nov 2003 |
1,5 |
1,3 |
1,2 |
n.a. |
|
General government balance (% of GDP) |
SP Nov 2004 |
– 1,4 |
– 1,0 |
– 0,9 |
– 1,0 |
COM autumn 2004(3) |
– 0,8 |
– 1,6 |
– 2,0 |
n.a. |
|
SP Nov 2003 |
– 1,8 |
– 2,3 |
– 1,5 |
n.a. |
|
Primary balance (% of GDP) |
SP Nov 2004 |
– 1,2 |
– 0,9 |
– 0,8 |
– 0,9 |
COM autumn 2004(3) |
– 0,6 |
– 1,4 |
– 1,8 |
n.a. |
|
SP Nov 2003 |
– 1,6 |
– 2,1 |
– 1,5 |
n.a. |
|
Cyclically-adjusted balance (% of GDP) |
SP Nov 2004(2) |
– 0,7 |
0,3 |
1,4 |
2,0 |
COM autumn 2004(3) |
0,4 |
0,3 |
0,7 |
n.a. |
|
SP Nov 2003(2) |
0,9 |
1,0 |
2,2 |
n.a. |
|
Government gross debt (% of GDP) |
SP Nov 2004 |
5,0 |
5,0 |
4,6 |
4,5 |
COM autumn 2004(3) |
4,9 |
4,8 |
4,7 |
n.a. |
|
SP Nov 2003 |
5,2 |
5,0 |
4,4 |
n.a. |
|
Sources: Stability programme (SP); Commission services economic forecasts (COM); Commission services calculations |