Monaco revises budget revenues downward for first time since 2011

Monaco has revised its budget revenues downward for the first time since 2011, reporting a decrease of 67.9 million euros. This reduction, representing a 3.1% drop, is primarily attributed to a 110.2 million euro decline in tax revenues, including VAT.

The budget revision has triggered significant political tension within the National Council. Debates regarding the 2026 rectifying budget led to a rare suspension of proceedings following a confrontation between National Council President Thomas Brezzo and Minister of State Christophe Mirmand.

Beyond the fiscal shortfall, the assembly is facing ongoing disagreements concerning the scope of parliamentary powers, the construction of state housing, and the implementation of national priority in public sector recruitment.