WILLEMSTAD - Minister of Finance, Javier Silvania, has responded critically to recent statements from opposition parties MAN and PIN, which claim that Curaçao recorded a budget deficit in 2022 and 2023. According to Silvania, this interpretation is incorrect, as Curaçao actually achieved a surplus in both years.
MAN and PIN base their criticism on preliminary budget figures; however, the minister argues that these figures create an inaccurate picture and cause unnecessary unrest among the population. Silvania points out that the final results for both years were positive and emphasizes that the figures are carefully analyzed before being labeled as definitive.
The opposition refers to preliminary figures marked with the letter 'R,' which stands for 'realization,' but these figures are not yet finalized. According to the minister, placing emphasis on preliminary figures undermines confidence in public finances, which is detrimental to Curaçao's investment climate.
Financial Supervisory Board
The Financial Supervisory Board (Cft) also confirms in its advice and execution reports that Curaçao achieved a surplus of 19 million guilders in the ordinary service for 2023, and that a positive result was also realized for 2022.
Although Curaçao did not record a deficit in 2022 and 2023, the Cft warns in its advice that surpluses may decline in the future due to various risk factors. These include rising allocations to the Social Insurance Bank (SVB) swing fund and the ongoing financial issues of the Curaçao Medical Center (CMC). These risks pose a threat to the stability of the budget in the medium term.
The minister emphasizes that the opposition parties MAN and PIN are wrongly using preliminary figures to paint a negative picture, while the final figures show positive results. The Cft confirms in its advice that the use of realization figures is important but notes that there are indeed structural challenges that could pressure the budget in the long term.