Spring Fair: Etienne Schneider calls for more growth

The Economy Minister called at the opening of the Spring Fair for joint effort.

«If you really want to do something, you will find a way. If you don’t, you will find an excuse!» —  Etienne Schneider has taken over this proverb at the opening of the Spring Fair on the Kirchberg plateau.

He stated his wish: more growth. Easier said than done, especially in the light of the economic situation of Luxembourg, as well as that of the euro area that remains tense.

The Luxembourg State is not to be outdone, also said Mr. Schneider. This year,
€ 1.7 billion will be spent on the construction of schools, colleges, railways and roads. An effort that represents 3.7% of GDP, the highest in comparison to other EU Member States.

Companies that belong to the public sector will also participate in this expansion plan: P&T, the energy distributors Enovos Creos and SEO, Datacenter Luxconnect as Sogaris will together invest a total of EUR 2.5 billion during the next five years.

However, Luxembourg cannot go through this alone without European support. The Economy Minister pleaded for trading partners such as the U.S. and China meet EU rules. «I will not defend a protectionist policy,» he said, adding that he wanted a competition on an equal footing.

On his initiative and the Minister of Finance Luc Frieden, a policy debate on economic growth and competitiveness will be held on May 16 in the Chamber of Deputies of Luxembourg. «Without growth, we cannot finance our social system in the long term,» said Mr. Schneider at the Spring Fair.