The Princely Government has acknowledged the National Council's rejection of the draft for the first revised budget of 2024.
State Minister Pierre Dartout commented, "We take note of this, but we will not lose sight of our objectives. This refusal will not prevent the state from continuing its actions and fulfilling its commitments." The government emphasizes the need to continuously adapt its strategies to meet development needs and uphold public policy commitments with concrete, effective, achievable, and financially sound solutions.
The main contention between the National Council and the Government revolves around housing for Monegasques (nationals). Given the high price per square meter in Monaco, the Prince provides apartments at significantly reduced rents compared to the Principality's average. However, the IMSEE reported a few months ago that the housing needs were sufficiently met, considering that some vacated apartments could be renovated and new buildings constructed. Despite this, the government has shown goodwill by prioritizing the delivery of 25 new apartments at Villa La Luciole between 2027-2028.
In an official statement, the government further explains that planning real estate development requires land, which involves periods of negotiations and transactions. The results, however, speak for themselves: in the past six years, 608 apartments have been delivered, soon to be 633 with Villa Carmelha. On a territory of just 2 km², this achievement reflects the energy and dynamism that have brought the Sovereign Prince's vision for the Principality's development and preservation to life.