WILLEMSTAD - Curaçao and the Netherlands have reached an agreement regarding a Growth Agreement. The signing of this Growth Agreement gives an impulse to the implementation of the Growth Strategy that the Government of Curaçao has been working on recently, on its own initiative.

For the coming years, the Growth Agreement provides additional scope in the financial field to implement structural changes, but in addition also primarily the possibility of making the necessary economic and social investments. The time has now come to come up with an important package of investments in the economic and social field for recovery. In the meantime, work is continuing to take the necessary steps to introduce financial, economic and administrative adjustments, but through a much more realistic path, and to implement the social agenda that the government has in mind. The Growth Agreement establishes multi-year agreements in each of these areas, which will be monitored by a mixed progress committee and regularly reported to both parties.

Budgetary Instruction

In addition to reaching a Growth Accord in accordance with the wishes of the Government of Curaçao, the Council of Ministers of the Kingdom of the Netherlands has decided to give a budgetary instruction based on what the Dutch Financial Supervision Act prescribed for Curaçao and Sint Maarten. The Government of Curaçao has taken note of the instruction, but at the same time continues to focus on its own commitment to address the financial and economic challenges under the Growth Strategy. It is precisely for this reason that the Government of Curaçao does not see the need to come up with an instruction and as a result will submit an objection to the Council of State.

From the outset, the Government of Curaçao has advocated - irrespective of the part of the designation - to continue to negotiate intensively with the Dutch Government and is satisfied with the space now granted to make adjustments and gradually to take measures. This while a socio-economic investment program can be implemented in a realistic and responsible manner. The Netherlands, for its part, will provide the necessary support on the basis of agreements made.

The Government of Curaçao will continue to inform the community of all developments regarding the continuation of existing plans in relation to the Growth Strategy, now laid down in an agreement.