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STATEC warns of recession risk

STATEC warns of recession risk

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Show: Your Luxembourg News

 

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Your Luxembourg News
Your Luxembourg News
STATEC warns of recession risk
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Public finances are facing increasing pressure. The national statistics institute STATEC warned that a prolonged closure of the Strait of Hormuz could push the country into recession this year. Inflation could rise to six percent, compared to earlier forecasts predicting 1.7 percent growth and four percent inflation. The National Council of Public Finances also reported worsening state finances.

Meanwhile, the city of Esch-sur-Alzette received an award from the European Coalition of Cities Against Racism for its work against racism and discrimination. The jury highlighted the city’s International Women’s Day 2024 initiative, which included workshops, conferences, film discussions and a “Living Library” with testimonies from women from Iran, Afghanistan and Egypt. More intercultural projects are planned.

Around 20,000 pilgrims gathered in Wiltz on Ascension Day for the annual Fatima pilgrimage. The event took place for the 58th time and remains closely linked to Luxembourg’s Portuguese community. The pilgrimage site dates back to the end of the Second World War and the sanctuary was inaugurated in 1952.

A record 18,000 runners also took part in the 19th edition of the ING Night Marathon in Luxembourg City despite rainy weather. Organisers praised the atmosphere across the capital, while thousands of volunteers and emergency staff helped manage the event.

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