Chief of State--Prince RAINIER III (since November 1949); Heir
Apparent Prince ALBERT Alexandre Louis Pierre (born 14 March 1958);
Head of Government Minister of State Jean AUSSEIL (since 10
September 1985)
Political parties and leaders:
National and Democratic Union (UND),
Democratic Union Movement (MUD),
Monaco Action,
Monegasque Socialist Party (PSM)
Suffrage: universal adult at age 25
Elections:
National Council--last held on 24 January 1988 (next to be held 24
January 1993);
results--percent of vote by party NA;
seats--(18 total) UND 18
Member of: ACCT, CSCE, ICAO, IMF (observer), IMO, INTELSAT,
INTERPOL, IOC, ITU, LORCS, UN (observer), UNCTAD, UNESCO, UPU, WHO, WIPO
Diplomatic representation: Monaco maintains honorary consulates
general in Boston, Chicago, Los Angeles, New Orleans, New York, and San
Francisco, and honorary consulates in Dallas, Honolulu, Palm Beach,
Philadelphia, and Washington;
US--no mission in Monaco, but the US Consul General in Marseille,
France, is accredited to Monaco; Consul General R. Susan WOOD; Consulate
General at 12 Boulevard Paul Peytral, 13286 Marseille Cedex (mailing
address APO NY 09777); telephone 33 (91) 549-200
Flag: two equal horizontal bands of red (top) and white; similar to
the flag of Indonesia which is longer and the flag of Poland which is
white (top) and red
ECONOMY
Overview: Monaco, situated on the French Mediterranean coast, is a
popular resort, attracting tourists to its casino and pleasant climate.
The Principality has successfully sought to diversify into services and
small, high-value-added, non-polluting industries. The state has no
income tax and low business taxes and thrives as a tax haven both for
individuals who have established residence and for foreign companies that
have set up businesses and offices. About 50% of Monaco's annual revenue
comes from value-added taxes on hotels, banks, and the industrial sector;
about 25% of revenue comes from tourism. Living standards are high, that
is, roughly comparable to those in prosperous French metropolitan
suburbs.
GDP: $324 million, per capita $11,000; real growth rate NA%
(1990 est.)
Inflation rate (consumer prices): NA%
Unemployment rate: full employment (1989)
Budget: revenues $386 million; expenditures $426, including capital
expenditures of $NA (1988 est.)
Exports: $NA; full customs integration with France, which collects
and rebates Monacan trade duties; also participates in EC market system
through customs union with France
Imports: $NA; full customs integration with France, which collects
and rebates Monacan trade duties; also participates in EC market system
through customs union with France
External debt: $NA
Industrial production: growth rate NA%
Electricity: 10,000 kW standby capacity (1988); power supplied by
France
COMMUNICATIONS
Railroads: 1.6 km 1.435-meter gauge
Highways: none; city streets
Ports: Monaco
Merchant marine: 1 petroleum, oils, and lubricants (POL) tanker
(1,000 GRT or over) totaling 3,268 GRT/4,959 DWT
Civil air: no major transport aircraft
Airports: 1 usable airfield with permanent-surface runways
Telecommunications: served by the French communications system;
automatic telephone system; 38,200 telephones; stations--3 AM, 4 FM, 5
TV; no communication satellite stations
DEFENSE FORCES
Note: defense is the responsibility of France
