Pierre Dartout, Minister of State, has expressed his satisfaction with the overwhelming vote by the National Council in favour of the adjusted budget for 2021.

The Monegasque economy bounced back in July, strengthened even more in August, and did extremely well in September, Mr Dartout said.

As previously reported by NEWS.MC the likely deficit for 2021 will be 8.8 million euros in contrast to the expected 100 million+ deficit expected at the start of the year.

Business turnover was so much better than anticipated that VAT receipts over the summer were 120 million euros in excess of expectations.

Last Thursday’s vote by the elected body in favour of the adjusted budget was carried with 20 votes in favour and only three abstentions.

FILE PHOTO: Monaco’s National Council