WILLEMSTAD - A study by the Central Bureau of Statistics (CBS) reveals that 80% of Curaçao’s population earns less than 3,000 guilders per month. This data stems from a 2019 labor market survey and a 2020 financial inclusion study. The government released the findings during parliamentary discussions on a bill proposing a basic bank account for all citizens. 

The 2019 survey indicates that over a quarter of the population (28.3%) earns between 1 and 1,000 guilders per month. Approximately 20% make between 1,000 and 2,000 guilders, while nearly 12% earn between 2,000 and 3,000 guilders. A small minority earns over 3,000 guilders, with nearly 7% making between 3,000 and 4,000 guilders, and just over half a percent earning more than 10,000 guilders monthly. Additionally, nearly a quarter of the working population (23.4%) reported having no income in 2019. 

Introduction of the Basic Bank Account 

The proposed basic bank account is designed for individuals who lack access to traditional banking services, such as those without a pay stub. Customers using this account will be limited to monthly deposits of 3,000 guilders, a safeguard against money laundering risks. The account aims to facilitate essential payments like rent, utilities, and waste collection fees. 

The bill marks a step toward financial inclusion, ensuring that more citizens have access to basic banking. The basic account is separate from savings accounts, but future legislation may expand access to savings accounts for all citizens. 

Plans for Entrepreneurs 

The government is also developing a separate legal framework to support entrepreneurs. A financial entity dedicated to serving this group is currently in the works, according to government officials. 

This initiative reflects ongoing efforts to address income disparity and enhance financial inclusion in Curaçao.