{"id":316924,"date":"2025-10-01T14:39:20","date_gmt":"2025-10-01T12:39:20","guid":{"rendered":"https:\/\/www.monaco-tribune.com\/2025\/10\/crypto-economy-entrepreneurship-digital-pierre-andre-chiappori-provides-overview-of-monegasque-developments\/"},"modified":"2025-10-01T14:43:27","modified_gmt":"2025-10-01T12:43:27","slug":"crypto-economy-entrepreneurship-digital-pierre-andre-chiappori-provides-overview-of-monegasque-developments","status":"publish","type":"post","link":"https:\/\/www.monaco-tribune.com\/en\/2025\/10\/crypto-economy-entrepreneurship-digital-pierre-andre-chiappori-provides-overview-of-monegasque-developments\/","title":{"rendered":"Crypto, economy, entrepreneurship, digital: Pierre-Andr\u00e9 Chiappori provides overview of Monegasque developments"},"content":{"rendered":"\n

Invited to speak by the Monegasque Junior Chamber of Commerce and Industry on Tuesday 30 September, the Minister of Finance and the Economy outlined Monaco’s economic performance.<\/strong><\/p>\n\n

President Hanna Derrien opened the third JCI Breakfast Conference of the year at the M\u00e9ridien Beach Plaza. Pierre-Andr\u00e9 Chiappori, Minister for Finance and the Economy, presented a remarkable economic report and announced the Principality’s strategic orientations.<\/p>\n\n

Unparalleled economic health<\/strong><\/h2>\n\n

The figures presented by the Minister speak for themselves.\u00a0“The Monegasque economy grew in real terms, i.e. adjusted for inflation, by 5% per annum”<\/em> over the 2019-2024 period, he announced. In comparison, the Eurozone “barely averages just over 0.5% a year.”<\/em>\u00a0Pierre-Andr\u00e9 Chiappori underlined how unique that performance is:\u00a0“It is extremely rare for a landlocked economy to manage to grow four times faster than the surrounding area.”<\/em><\/p>\n\n

This growth has been driven by major private investment programmes, particularly in property, as well as public projects such as\u00a0<\/span>the Mareterra extension<\/span><\/a>. Contrary to conventional economic wisdom, Monaco has not suffered from any major budget deficits or inflationary pressures, thanks in particular to a cross-border employment pool of several hundred thousand people.<\/span><\/p>\n

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\"Mareterra\"
Mareterra, inaugurated in December 2024 after six years of construction, represents an investment of \u20ac2 billion to create 6 hectares of additional land<\/em> \u00a9 Arianna Minghetti Melani via Messenger<\/figcaption><\/figure>\n<\/div>\n

The Minister also confirmed that\u00a0“the budget for 2025 will be in surplus,” <\/em>continuing a tradition of budgetary discipline. The Principality has a reserve fund of around nine billion euros,\u00a0“representing roughly one year’s budget,”<\/em>\u00a0and providing a solid capacity to absorb the downturn in neighbouring economies, on which Monaco also depends.<\/p>\n\n

International compliance on track<\/strong><\/h2>\n\n

Monaco has made considerable progress in terms of international compliance.\u00a0 The Principality has made a spectacular recovery after the highly critical Moneyval report of 2022-2023.\u00a0\u00a0“We are mostly or fully compliant on 39 of the 40 recommendations. The only remaining point is cryptos,” <\/em>said Pierre-Andr\u00e9 Chiappori, adding that the government and the National Council are currently working on the last recommendation so that a bill can be passed into law by end 2026.<\/p>\n\n

FATF: Monaco over first hurdle towards coming off the grey list<\/a><\/blockquote>