The Principality is planning to boost economic recovery with a 75 million euro stimulus plan, and for ease of understanding the Government has colour coded each type of stimulus.

Digital transition is blue, energy transition is green, construction is white and stimulus for local commerce red and white.

The Carlo application has been labelled a real success by Minister of Finance and Economy Jean Castellini, as it has almost 280 participants and 18,000 users, or close to half the resident population of Monaco. Based on the cash-back principle it gives additional purchasing power to Monaco households which is re-injected back into the local economy.

The Blue Fund is helping the digital service providers of the Principality, for which 20 million euros has been allocated by the National Council. A total of 109 applications have been accepted and 80 others are in progress.

Jean Castellini is optimistic: “The controlled reopening of restaurants and the holding of the first two Grands Prix are a very good signal for our economy,” he said.

FILE PHOTO: Jean Castellini