At the end of the public session on Friday, June 21, the Prince’s Government has taken note of the rejection of the draft first Amending Budget of 2024 by the elected representatives of the National Council.

“We take note but we do not lose sight of our objectives. This rejection will not prevent the State from continuing its action and assuming its commitments,” declared Minister of State Pierre Dartout.

However, the Government recalls that faced with development needs and the commitments of each public policy, it must constantly adapt its thoughts to provide answers.

“Adapting your thoughts means remaining attentive to the budgetary, financial, legal or social developments of each file: nothing is frozen in time. Adapting means taking the time to consider and integrate everything that is no longer and everything that must be from now on,” reads the press release.

“Concerning the priority issue of housing for Monegasques, despite the conviction and mobilisation of the Government and the administration services concerned, we must not ignore the complex land, urban planning and legal issues of Monaco, a small country in size, with very little available land space,” states the press release, adding that in order “to plan a real estate operation, you need land; the Government spares no effort but there may be periods of negotiations and transactions.”

Nevertheless, the result is there; in six years 608 apartments (soon 633 with Villa Carmelha) have been delivered. On a territory of 2km squared, this demonstrates all the energy and dynamics combined in the service of the vision of the Sovereign Prince for the proper development of the Principality and the preservation of the present. However, in a concrete gesture, the government has chosen to prioritise the delivery of 25 new apartments at Villa La Luciole in 2027-28.

In the case of the Fontvieille Shopping Center, it is appropriate for the government to best assess the reliability of the determining parameters for carrying out this project, namely the cost, deadlines and the impact on the activity and life of the neighbourhood, as discussed with National Advisors on Thursday, June 13, in the plenary study commission.

“The impact of the decision deserves all the precaution and precision that the State Services deploy in this study which we will continue to share with the National Advisors” indicates the Minister of State, who also specifies that “No one will be left out; neither the residents of the ‘Terraces de Fontvieille’ who will be individually supported in their rehousing, nor the traders who participate in the ‘animation of the shopping centre and who were involved in each stage of the project’.

“We are all committed to implementing the vision of the Sovereign Prince and we will happily resume our discussions with the National Council, which are always nourished and useful in the best interests of the country with, as of next week, the submission of the draft Amending Budget,” concludes the Minister of State.

Original Source Monaco Government Press Release