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San Marino is a multi-party democratic republic. The three main parties are the Democratic Christian Party of San Marino (PDCS), the Socialist Party of San Marino (PSS), and the Progressive Democratic Party of San Marino (PPDS), in addition to several other smaller parties. Due to the small size and low population of San Marino, it is difficult for any party to gain a pure majority, and most of the time the government is run by a coalition. Following a period of political instability after the June 2001 elections, in December 2003 the three largest parties formed a coalition government with a view to reforming the electoral law and subsequently calling for early elections. Because tourism accounts for more than 50% of the economic sector, the government relies not only on taxes and customs for revenue but also the sale of coins and postage stamps to collectors throughout the world. In addition, the Italian Government pays San Marino an annual budget subsidy provided under the terms of the Basic Treaty with Italy. In recent years banking has also become an important economic activity. Harmonization of statutes and policies with the EU is a major domestic and foreign policy priority of the republic. Another priority issue will be to increase the transparency and efficiency in parliament and in relations among parliament, cabinet, and the Captains Regent. |
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