Page 69 - Monaco Economy 117

1 – Governance and transformation 3 – Recovery 5 – Youth and sport
of the country 2021 is dependent upon the development of The state’s strategy does, of course, include
The governance and transformation of the Monaco’s economic and commercial dynamism youth, sport and culture. Amongst the subjects
country scheme notably includes a return to and the state’s recovery strategy. €90 million mentioned by ministers during the debates
balanced budgets, the modernisation of public has been dedicated to this, representing 5% was the wearing of masks by schoolchildren.
accounts and the optimisation of the credits of state budget. The national recovery plan is Ministers expect the government “to allow
invested in structuring projects. Analytical based around four axes: “An ecological recovery students in primary school classes to hold
budgetary accounting will be implemented through the existing National Green Fund, which lessons without masks, considering that there
on 1 January 2023. “This accounting entry, will be supplemented to finance, in particular, are few students per class and, therefore, social
by major public work promoting the energy transition; a digital distancing is possible.” The government has
policy, will allow revival through a Blue Fund dedicated to the provided teachers with transparent masks,
everyone a better transition initiated in 2018 and the acceleration particularly for those teaching reading, which
understanding of the of which appears necessary following the lessons are essential for deaf and hard-of-hearing
state’s action and its learned from the confinement period; a revival students. The National Council will launch
cost,” said Balthazar of public procurement through a White Fund its junior version in 2021 in consultation with
Seydoux. Another geared towards Monégasque SMEs, in particular secondary school students. “The objective
announcement is that by entrusting them with construction work on is to enable our young people to become
the proposed law on public buildings; and a revival of consumption in more involved in the institutional life of their
the establishment of a the Principality through a Red and White Fund, country by offering them the possibility of
final budget result law with the implementation of measures intended to participating, in a lively and collaborative way,
“which will allow an promote local trade.” This state financial support in a communal project.”
accurate assessment for the economy is deemed essential by ministers:
of the state’s balance “Even though, in terms of health, it is likely that the 6 – Digital Security
sheet” will be made worst is now behind us, with the hope generated Another priority: the pursuit of a high-level
tranformed into a bill. by the massive deployment of different vaccines, security policy for the Monégasque state,
The government also at the global level as in Monaco, the economic and including issues of digital security and the
this year intends “to social consequences will be lasting, unfortunately protection of privacy and personal data. It
identify new sources for us, as we all know,” remarked the President of notably includes the costs of maintaining the
of revenue and the National Assembly, Stéphane Valeri. national trust infrastructure (identity card,
contain the trend in resident card, signature, stamps and so on).
spending in order 4 – National housing plan
to regain budgetary Another strategic priority for 2021, according 7 – Clean transport
stability from 2021,” to Balthazar Seydoux, is “maintaining our social Given the Principality’s commitment to the
but with a caveat excellence which encompasses the National sustainable development of its urbanisation,
issued by the National Housing Plan,” and this is no surprise. “Housing, the development of clean mobility solutions and
Council: there is no at the heart of the concerns of Monégasques, the pursuit of energy transition objectives are
question of creating remains the absolute national priority, with priorities in 2021. “Everyone can see that traffic
new taxes: “The more than €200 million devoted to it in 2021.” density in Monaco remains very high, even in the
National Assembly Balthazar Seydoux estimates that “the need current period when activity is more restricted,”
is not in favour of the multiplication of taxes for housing is increasing at the rate of around say ministers. There will be an increase in the
that would be borne by residents.” 100 requests for additional new apartments per frequency of city buses, a new fleet of electric
year.” Ministers warned that they will remain buses, park and ride comes to the Exotic
2 – International cooperation “attentive to the delivery times on which the Garden in 2023 and later to Saint-Roman at
The government is banking on the development of government has committed for the various the Monte-Carlo Country Club and a maritime
international relations and enhancing the appeal of state-owned projects in progress - in particular shuttle service will be launched in summer 2021
the Principality, in particular with the Dubai World the Testimonio II and II bis, the Grand Ida and the between Nice and the Port of Cap-d’Ail, as the
Expo postponed to 2021. This area now includes Palais Honoria, which include much affordable. State Minister explains: “We are now faced with
international cooperation in the fight against the “The new version of the Grand Ida project (three the need to make strategic choices, which we
Covid-19 pandemic. In terms of figures, official buildings instead of one) provides for nearly 140 will soon present to the Sovereign and which
development assistance amounts to €20.9 million. housing units, a nursery, as well as a community we will then discuss with you.”
An envelope of €1.1 million is allocated to the centre and some 5,000 square metres of retail
United Nations’ Green Climate Fund. and service areas.

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