WILLEMSTAD – Government spending on child benefit in Curaçao increased to nearly 21 million guilders in 2023, according to the latest annual report from the Social Insurance Bank (SVB). This marks a rise of over 1 million guilders compared to 2022. 

The child benefit program, officially known as the General Child Benefit, provides financial support to parents and guardians of children up to 18 years of age. In 2023, the number of children receiving the benefit averaged nearly 26,000, up from just over 25,000 the previous year. 

The SVB attributes the increase in costs to two main factors: a higher number of eligible recipients and a raise in the monthly benefit amount per child, which was implemented on July 1, 2022. The full financial impact of that raise was reflected for the first time over a complete calendar year in 2023. 

Since the adjustment, the average monthly payment per child has been 75 guilders. The SVB notes that the rise in total expenditures is consistent with previous forecasts and reflects the government’s commitment to supporting families.