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Town Council votes €85.3 million budget for 2023

Mairie Monaco
© MonacoTown Hall

Among the upcoming expenditure: renovation of the Villa Lamartine.

The 2023 Budget was voted unanimously by the elected representatives at the Town Council meeting of 15 December. An exceptional budget of €85,329,000.


This is an increase of 11.37% compared to 2022, which is explained in particular by a levy of €3.1 million from the Municipal Financial Fund. This levy is intended to help finance three projects planned for the year 2023: the continuation of repurposing work on the Villa Lamartine, renovation work at the Espace Saint-Charles and a refurbishment of the Council Chamber.

€1.8 million will be allocated to the Villa Lamartine, which is to become a day centre where the beneficiaries of the Club le Temps de Vivre can come instead of the municipal video and audio libraries and the Latil Museum. The work will be completed, in theory, in 2023.

€450,000 will be used, at the Espace Saint-Charles, to completely renovate the Monte-Carlo market staff changing rooms, as well as the staff and public changing rooms at the Saint-Charles swimming pool. Completion of this work, initially planned for 2022, has been postponed to 2023.

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Finally, renovation of the Council Chamber will be financed to the tune of €850,000. “The renovation will involve in particular the flooring, walls and ceilings, but also all the computer equipment (software solutions, hardware) and all the furniture in the Chamber”, the Town Hall explains.

At the same time, the Council mentions that “personnel costs and social contributions amount to €52,600,000, an increase of 11.75%. (…) The increase takes into account, in particular, the evolution of the wage index, promotions, and a number of retirements scheduled for the year, accidents in the workplace and sick pay. It also covers expected new recruitments.”

On the revenue side, in addition to the 3 million drawn from the Municipal Financial Fund, the Commune’s revenue is estimated at €17,300,400.

Fewer and smaller billboards

The Town Council also discussed the issue of billboards during the session. “As agreed with the previous Minister of State, we are continuing to rid the town of the most unattractive signs and making the ‘stock’ more aesthetically pleasing, to bring it up to the standard of our beautiful Principality”, said the Deputy Mayor Axelle Amalberti Verdino.

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The boards are therefore being redesigned and are smaller in size. “We are [also] moving from 24 to 14 panels. I would like to reassure our customers, including associations, that there is no negative geographical impact: we are simply removing duplicates and adding a digital screen”, added Axelle Amalberti Verdino.

Again, these arrangements, as well as the new tariffs, increased by 5% for 2023, were voted unanimously.

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