Monaco To Begin Calculating Its GDP
The government of Monaco has announced to companies the launch of a large scale
statistical survey with the aim of determining the Principality’s Gross
Domestic Product as well as the Gross National Income. Government Counsellor for Economy and Finance, Franck Biancheri, explained
that the initiative is being undertaken to follow through on a commitment by
Prince Albert II to contribute 0.7% of the Principality's GDP to the United
Nations' Millennium for Development project. Biancheri explained that the survey will also enable Monaco to calculate its
compulsory contributions to international organizations, while giving the
Principality economic evaluation and indication tools comparable to those of
other countries. The lack of a structure for the collection of income declarations or national
accounts statistics, in addition to economic boundaries that are hard to define
has meant the the Principality has hitherto not been able to calculate its own
GDP. "Often asked about this, all the more striking given Monaco’s image
as being prosperous, the Principality has decided to make up for this lack of
information," the government said in a statement. The survey has been sent out to nearly 6,500 companies and professionals. Biancheri stressed that the information will not be used for fiscal purposes,
and he assured that all information will remain confidential. The initial findings of the survey will be made available in late 2006 or early
2007. .
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