12 ° C
Breaking News

98 Covid cases, 20 Jan, 40 hospitalised - 26 res, 4 in ICU - 1 res, 393 home monitored, 6,591 recoveries, 45 deaths, 1,953 incidence rate, 67.8% vaccinated

CTTR ceases at start of 2022

CTTR ceases at start of 2022

By Cassandra Tanti - November 25, 2021

The government on Thursday announced that it will be suspending the temporary unemployment scheme (CTTR) from 31st December this year.

As the pandemic took hold in March 2020, the Prince’s government implemented a series of measures to support local companies and preserve jobs in the Principality, including the temporary unemployment scheme Chômage Total Temporaire Renforcé (CTTR).

At the peak of the crisis, up to 22,500 employees per month were supported by the scheme, while 2,650 employers in the Principality were relieved of their wage and social responsibilities.

It has cost the Monegasque State more than €141.4 million to date.

On Thursday, while acknowledging that some sectors are still yet to return to pre-pandemic activity, the government announced that Monaco’s economic recovery has been achieved and, in agreement with the Council National, it will suspend the CTTR at the end of this year.

“This scheme, designed to be temporary and exceptional, was an emergency measure

that was not intended to last over time,” said the government in a statement.

However, it “could be quickly reactivated if the government were faced with the need to suspend certain sectors of activity for reasons relating to the health situation.”

The government says that “It is up to companies to continue to adapt to the new

economic context”, while it will continue to provide assistance through the Principality’s Economic Recovery Plan, which has mobilised €80.8 million euros since its implementation.



Photo by Melody Temple on Unsplash 




Sign up to our newsletter
Previous articleSimplifying net zero
Next articleMonaco councillors vote ‘yes’ to limiting nationality rights


January 21, 2022 | Business & Finance

Marc Vassallo stepping in as new Secretary General

Stephanie Horsman

The position of Secretary General in the Prince’s government, left open by the retirement of Robert Colle, is being filled by the current Deputy Secretary General, Marc Vassallo.

January 20, 2022 | Business & Finance

National Council looks to a positive 2022

Luke Entwistle

During his annual address to the press, National Council President Stéphane Valeri was optimistic for 2022, saying "there are reasons to hope that we can get back to a quasi-normal life.”

January 20, 2022 | Business & Finance

Government reactivates financial support measures

Cassandra Tanti

Businesses that are suffering an economic loss under the fifth wave of the pandemic will once again receive assistance from the government.

January 18, 2022 | Business & Finance

This is the Prince’s new equal Cabinet

Cassandra Tanti

Prince Albert has chaired the first meeting of his new Cabinet headed by Laurent Anselmi at the Prince's Palace, unprecedentedly made up of half women, half men.