About: http://data.cimple.eu/news-article/3c85adc48e39ecae266e9dfcc988b5a84e5b5a469fa52227b79dbc31

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About: http://data.cimple.eu/news-article/3c85adc48e39ecae266e9dfcc988b5a84e5b5a469fa52227b79dbc31 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Monaco will reduce spending on the royal household by 40 percent to cope with the coronavirus fallout in the principality on the French Riviera, the palace said on Wednesday. "The gravity of the situation demands rigorous financial management... that leads to an overall reduction in state expenses," the palace said in a statement. As a result, the allocation for the royal living expenses will fall to eight million euros ($8.7 million) from 13.2 million euros before the crisis. Head of state Prince Albert II tested positive for COVID-19 last month, though he came out of quarantine on March 31. Monaco has been battered by a wave of event cancellations including the Formula One Grand Prix, a glittering fixture on the world motorsport calendar that was supposed to be held on May 24. And with no high-spending tourists in its luxury boutiques or playing the tables at the Monte-Carlo or other casinos, tax revenues have plummetted. Lawmakers this week approved a new annual budget with more than 300 million euros of additional spending to cushion the blow, including a minimum monthly allocation of 1,800 euros for self-employed workers now without jobs during the lockdown, set to last until May 3. vxm/iw/js/
schema:headline	Monaco's royal house goes frugal as virus crisis bites
schema:mentions	French Riviera Monaco Formula One Gravity Quarantine Lockdown Virus Severe acute respiratory syndrome coronavirus 2 Albert II of Belgium Monte Carlo Grand Prix motor racing
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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