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By Florent DELORY, Partner, Entity Governance Compliance, PwC Luxembourg*
Luxembourg’s economy is expected to face challenges in 2024, with weak investments and tighter financing conditions. The economy of the country is likely to experience a recession early 2024, leading to a gross domestic product contraction.
Luxembourg companies are suffering from this situation while at the same time facing a number of regulatory changes that require investment in order for them to comply, which they must. As an example, the Digital Operational Resilience Act (DORA) will introduce new obligations for most European financial firms in terms of cybersecurity and risk management. The Corporate Sustainability Reporting Directive (CSRD) covers...
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