WILLEMSTAD - Curaçao's budget for 2024 was approved at the end of last week with fourteen votes in favor and seven against. Finance Minister Javier Silvania announced the final figures of the budget, totaling over 2.1 billion Antillean guilders.
The budget for the 'Ordinary Service' is set at 1.9 billion guilders. The term "Ordinary Service" in the budget refers to the ongoing expenses of the Curaçao government. These expenses include the daily costs necessary for the functioning of the government, such as salaries and wages of civil servants and employees, maintenance and management costs of government buildings and facilities, and expenditures for public services such as education, healthcare, and social security.
For the 'Capital Service,' 209 million guilders have been allocated. This term refers to the capital expenditures of a government. These expenses are often one-time or have an investing nature, focusing on the future development of the country or organization. Examples of capital expenditures include the purchase or construction of new infrastructure such as roads, bridges, schools, and hospitals, major renovation or expansion projects, and the acquisition of significant assets such as vehicles, machinery, and equipment.
Ennia
Quincy Girigorie of the PAR faction explained why they voted against the budget. The main reason was the unclear handling of a budget item of 30 million guilders allocated for a solution for Ennia since 2021, without proper documentation and explanation. Girigorie also emphasized the risk of uncontrolled spending and the lack of priorities in the budget.
Giselle Mc William of the MAN faction also expressed concerns about the transparency and accountability of the budget, especially regarding the 30 million guilders entrusted to the government without clear justification.
The Financial Supervision College (Cft) also requested to be informed about the elaborated solution for Ennia in response to the draft budget.
In the Amendment Note, the interest expenses of 46 million guilders per year related to the refinancing of the liquidity support loan have been included. Curaçao maintains these interest expenses at a high rate for multiple years (2024-2027).
This is despite the commitment from the Netherlands to convert the refinancing into a long-term loan at a lower interest rate when the solution for ENNIA is assessed by Dutch experts as financially sound and sustainable.
The Cft considers it crucial for this solution for ENNIA to be implemented as soon as possible so that the interest expenses can be reduced in 2024 and for the subsequent years.
Motions
Gilbert Doran of the ruling MFK party mentioned the paradox that some colleagues voted against the budget but simultaneously submitted motions to allocate funds to certain items.
Sheldry Osepa of the PNP faction emphasized that even though the budget is now approved, it can change in the future. The PNP faction voted for the budget to give the government the space to continue working and making improvements.
In the end, despite divisions and criticism, the budget for 2024 was approved by the Curaçao parliament.