Very significant news was unveiled on Thursday 10 September by the Minister of State H.E. Mr. Michel Roger, surrounded by Members of Parliament, at the Monaco Parliament re-opening press conference. For the first time in its history, the State revenue for the present year should cross the one billion euro threshold.
This performance is remarkable. Firstly, as almost all the items of revenue are increasing. Secondly, as the constitutional reserve fund has increased liquidity. And lastly, because few heads of government are giving us such good news in this period of economic crisis in Europe.
The total revenue of the amending budget is €1,067M while total expenditure remains stable at €1,047M, with the increase being essentially due to the very good injections of summer 2014 as legal transactions, and particularly as far as transfer taxes are concerned. The evolution of Monaco’s VAT is also favourable.
Thus Monaco is one of the very limited number of states with no debt and a balanced budget. “There’s no question of relaxing in our efforts, however. This is the very status behind the attractiveness of the country,” maintains the Minister of State.
