Economic, political and social situation of Luxembourg
Luxembourg is one of the European countries with borders with France, Germany, but also Belgium. Having obtained its independence since the Treaty of London in 1839, it is part of one of the most dreamed of European territories. But for many curious people, it is important to know more about a territory before venturing there. It is for this reason that we offer you through this article, an analysis, a summary of the situation of this country on the different sectors that govern it.
The political situation in Luxembourg
On the political level, it should be pointed out that Luxembourg has a power based on parliamentary democracy, in the form of a constitutional monarchy. It was not until 1919 that universal suffrage made its appearance in the constitution, a real turning point in the environment and in the political organization of this country. This would lead one to wonder then how the vote was done before such a period. In fact, we were talking about a vote to the cens. In other words, you only have the right to vote if you pay a certain amount of tax. But women did not have this possibility and only men aged 25 and over could vote. The principle of the separation of powers governs in this country. A flexible separation whose legislative power is exercised by the Chamber of Deputies, while the head of the executive is the Grand Duke. The courts and tribunals are responsible for justice.
What about the economic and social situation in Luxembourg ?
The economic situation must be analyzed taking into account its finances. In 2021, the Minister of Finance announced an increase of more than 24% in the country's public finances. This is notably due to several elements, in particular the strength of Luxembourg in the steel sector. This occupies more than 10% of its GDP. But the flagship sector of the Luxembourg economy is undoubtedly finance. 25.7% or the share of the financial sector in GDP. The Grand Duchy is a financial center of international scope. The minimum wage reaches 2,256.95 euros (2021). It is the highest in the world just ahead of Australia. On the social side, we must notice a great satisfaction which also encourages many foreigners to settle there. It is one of the states receiving a significant number of migrants in the world. It is possible to notice a level of tolerance in society. For some, such an observation would only be the result of a satisfactory economic situation which allows almost everyone to find something to do. This is also justified by the early low unemployment observed in 2020.
The multicultural aspect of Luxembourg
As we have just seen, it is a European country in which it is possible to find a place. A great cultural mix can be observed in such a region. In fact, it should be noted that the abundance of immigrants in this country is a reason for the multiplicity of culture. Moreover, many languages are spoken there, including French, German and also English. Portuguese is also omnipresent because there is a large Portuguese community in Luxembourg. In terms of analysis, it can well be noted that Luxembourg has a tenacious and well-developed economic situation. This provides a more peaceful living condition for its people.
Published on 2022-10-10 13:30:50