State revenues in the Principality have held up much better than expected, and the original estimate of 477.3 million euros can be cut by three, Minister of State Pierre Dartout announced on Tuesday evening.
“I know the importance of this deficit for the Principality, which has been accustomed in recent years to surplus years. But in exceptional circumstances, an exceptional deficit,” he told the public session of the National Council on Tuesday evening.
He said that the much better figure had been achieved despite the financial support that many businesses have received during the coronavirus crisis.
Mr Dartout added that the Government is actively considering ways to increase revenues, and this will be a topic for discussion with the National Council “very soon,” since it is the aim of the administration to balance the budget as soon as possible and aim for a budget surplus while at the same time not sacrificing the priorities set out by HSH Prince Albert, including sustainable development, security and digital technology.
PHOTO: Pierre Dartout, Minister of State Monaco Government Press Service