The latter is necessary, frost said Albert because the corona crisis is expected to cause the state budget to show a deficit of at least € 500 million this year. Monaco, like other countries, has taken numerous measures to mitigate the economic and social consequences of the restrictive rules that are intended to contain the virus. In addition, less money comes in, partly because tourists stay away and the Grand Prix of Monaco will also be canceled in May.
Albert, who himself was infected with the virus last month, wants to set a good example with his decision. In his announcement, he said he was confident that the economic and social model of Monaco is strong enough to overcome the consequences of the unprecedented pandemic.
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