r of State Jean AUSSEIL (since 10
September 1985)

Political parties and leaders: National and Democratic Union (UND),
Democratic Union Movement (MUD), Monaco Action, Monegasque Socialist Party (PSM)

Suffrage: universal adult at age 25

Elections:
National Council--last held on 24 January 1988 (next to be held 24
January 1993);
results--percent of vote by party NA;
seats--(18 total) UND 18

Member of: IAEA, ICAO, IHO, INTELSAT, INTERPOL, IPU, ITU,
UN (permanent observer), UNESCO, UPU, WHO, WIPO

Diplomatic representation: Monaco maintains honorary consulates
general in Boston, Chicago, Los Angeles, New Orleans, New York, and San
Francisco, and honorary consulates in Dallas, Honolulu, Palm Beach,
Philadelphia, and Washington;
US--no mission in Monaco, but the US Consul General in Marseille,
France, is accredited to Monaco; Consul General R. Susan WOOD; Consulate
General at 12 Boulevard Paul Peytral, 13286 Marseille Cedex (mailing
address APO NY 09777); telephone p33o (91) 549-200

Flag: two equal horizontal bands of red (top) and white; similar to the
flag of Indonesia which is longer and the flag of Poland which is white (top)
and red

- Economy
Overview: No data are published on the economy. Monaco, situated
on the French Mediterranean coast, is a popular resort, attracting tourists
to its casino and pleasant climate. The Principality has successfully sought to
diversify into services and small, high-value-added, non-polluting industries.
The state has no income tax and low business taxes and thrives as a tax
haven both for individuals who have established residence and for foreign
companies that have set up businesses and offices. About 50% of Monaco's annual
revenue comes from value-added taxes on hotels, banks, and the industrial
sector; about 25% of revenue comes from tourism. Living standards are
high, that is, roughly comparable to those in prosperous French
metropolitan suburbs.

GNP: NA

Inflation rate (consumer prices): NA%

Unemployment rate: full employment (1989)

Budget: revenues $386 million; expenditures $NA, including capital
expenditures of $NA (1988 est.)

Exports: $NA; full customs integration with France, which collects and
rebates Monacan trade duties; also participates in EC market system through
customs union with France

Imports: $NA; full customs integration with France, which collects and
rebates Monacan trade duties; also participates in EC market system through
customs