IMSEE publishes “Monaco in Figures 2024”

“Monaco in figures”, an annual collection of statistics, was recently published by the Monegasque Institute of Statistics and Economic Studies (IMSEE).

The new 2024 edition includes in-depth data on every aspect of Monaco’s economy over the past year, from macroeconomic indicators to sector-based statistics. The first results of the 2023 Population Census, which was made using a new calculation method based on registers, is also included in the new publication.

“This information is crucial to understanding ongoing trends, identifying growth opportunities and addressing the challenges that lie ahead,” states the IMSEE.

The publication includes a 123 page section on the economy, plus detailed chapters on the Principality’s territory, the environment, population, employment, public life and quality of life.

Monaco’s €7 billion Reserve Fund

The IMSEE’s publication includes some interesting facts about Monaco’s reserve fund. Created by the 1962 Constitution, the Constitutional Reserve Fund is the autonomous accounting entity, with its own assets, belonging to the Monegasque State. At the end of December 2023, the amount of assets in the Constitutional Reserve Fund amounted to €7 billion.

It comprises of:

– a gold reserve of around €343 million;

-Finances of €2.3 billion composed of investment securities (mutual funds, shares, bonds, etc.) and bank cash;

-Non-liquid assets totalling €4.4 billion; mainly made up of buildings (€2 billion). These real estate properties are located in Monaco or in neighbouring municipalities, with the exception of Embassies. The value of buildings increased slightly over the financial year (+1.1%). The vast majority of this real estate generates rental income and is occupied by companies, businesses, or individuals.

The “non-liquid” assets also include State participation in the capital of companies, including the S.B.M. (64.2% of the capital) and other companies linked to the State, such as SMEG, SMEAUX, the Société d’Exploitation du Grimaldi Forum, the Société d’Exploitation des Ports de Monaco (€1.7 billion). The State’s participation in Monaco Télécom (50%), however, falls under Budget accounting.

“Monaco in Figures” is available at IMSEE at 9 rue du Gabian for sale at the price of €15, or by mail order, it can also be downloaded free of charge from the website: www.imsee.mc