WILLEMSTAD - The chairman of the Financial Supervision Board announced indicated that Curaçao closed 2019 with a budget deficit of nearly 20 million guilders.

The deficit is smaller than in previous years. It is striking that the tax revenue for 2019 is a few tens of millions lower.

The government of Curaçao must pay more attention to reducing spending. That is the opinion of the Financial Supervision Council. From 1 September last year, the sales tax, excise duties and the waste tax were increased.

That was necessary according to the Financial Supervision Board. In addition, spending cuts must further stimulate economic growth.