National Day, 19 November
Political parties and leaders:
National and Democratic Union (UND); Democratic Union Movement (MUD); Monaco
Action; Monegasque Socialist Party (PSM)
Suffrage:
25 years of age; universal
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
Executive branch:
prince, minister of state, Council of Government (cabinet)
Legislative branch:
unicameral National Council (Conseil National)
Judicial branch:
Supreme Tribunal (Tribunal Supreme)
Leaders:
Chief of State:
Prince RAINIER III (since NA November 1949); Heir Apparent Prince ALBERT
Alexandre Louis Pierre (born 14 March 1958)
Head of Government:
Minister of State Jacques DUPONT (since NA)
Member of:
ACCT, CSCE, IAEA, ICAO, IMF (observer), IMO, INMARSAT, INTELSAT, INTERPOL,
IOC, ITU, LORCS, UN, UNCTAD, UNESCO, UPU, WHO, WIPO
Diplomatic representation in US:
honorary consulates general:
Boston, Chicago, Los Angeles, New Orleans, New York, San Francisco, San Juan
(Puerto Rico)
honorary consulates:
Dallas, Honolulu, Palm Beach, Philadelphia, and Washington
US diplomatic representation:
no mission in Monaco, but the US Consul General in Marseille, France, is
accredited to Monaco

*Monaco, Government

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

*Monaco, Economy

Overview:
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,
nonpolluting 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.
National product:
GDP - exchange rate conversion - $475 million (1991 est.)
National product real growth rate:
NA%
National product per capita:
$16,000 (1991 est.)
Inflation rate (