19th Palermo-Montecarlo: record broken and other Monaco news
It’s the last summer weekend and while you are getting ready for a new season we’ve prepared for you a selection of the most interesting news of the passed week.
19th Palermo-Montecarlo: record broken after nine-year wait
They had to wait nine years for the Palermo-Montecarlo record to be beaten. The accolade goes to the Maxi Black Jack 100 helmed by Tristan Le Brun from Yacht Club de Monaco who covered the 500 nautical miles separating Palermo in Sicily from Monaco in 1 day 20 hours 34 minutes 22 seconds, that’s three hours faster than the previous record set in 2015 by Esimit Europa 2, the former name of Black Jack 100.
Organised by Circolo della Vela Sicilia, in collaboration with Yacht Club de Monaco and Yacht Club Costa Smeralda, the Palermo-Montecarlo always attracts big-name international sailors and teams with some 50 in competition this year including the Comet 45s Gorilla Gang XL of Andrea Statari and Paul Basson’s Swan46 Foreign Affair both flying the Monaco flag.
Government Amends Monaco’s Law about Emergency Plans
A new draft by the National Council has amended Monaco’s law regarding emergency plans and the organization of relief efforts in the event of a serious disaster. The amended Law No. 1283 was discussed on 7 June 2024 and provides a legal framework for Government decisions.
In order to respond appropriately to the natural risk factors in the Principality and to the specific characteristics of the Monegasque territory, the law relates to the organization of civil security, the methods of preparation and implementation of various rescue plans.
Millions of Euros in Surplus: Monaco’s Amending Budget
Monaco’s National Council recently unveiled an amending budget for 2024 which shows that a surplus of €84 million had been made instead of the initial surplus of €64 million. However, the Treasury Special Account 84.10 ‘Damage Advances’ first lead to the National Council presenting the 2024 Initial Budget with a forecast of -€14.4 million.
The 2024 Budget shows revenue forecasts of €2,045.8 million, up 0.8% (or €15.5 million) compared to those of the 2023 Initial Budget (€2,030.3 million). Expenditure forecasts are now €2,060.2 million, up +1.9% (or €39 million) compared to the 2023 Initial Budget (€2,021.3 million).
SBM Achieves “exceptional economic performance” over 2023/2024 Financial Year
With a turnover up +6% compared to the 2022/2023 financial year, the Société des Bains de Mer (SBM) and its subsidiaries have generated an increased profit of €1.4 million for the 2023/2024 financial year (73.6 million euros compared to 72.2 million euros). The SBM’s economic report was published on 4 July 2024.
“The S.B.M. Group has achieved, over the 2023/2024 financial year, an exceptional economic performance, driven by all sectors of activity,” Stephane Valeri, SBM Deputy Chairman.
