Coronavirus impact on GDP growth rate in Luxembourg 2019-2024
In the event of a global recession and in the wake of the coronavirus outbreak, forecasts indicate that the growth of Luxembourg's economy would slow by over two percent in 2020. During this time, GDP in the Grand Duchy showed a 2.8 percent growth relative to 2018. In March 2020, however, stock markets suffered heavy losses as governments worldwide tried to contain the pandemic and fears grew on the economic consequences of this virus.
