WILLEMSTAD – Curaçao recorded a substantial budget surplus during the first half of 2026, but the government’s liquid funds nevertheless declined by XCG 46.9 million, illustrating the difference between a budget result and actual government cash flow.
According to the June 2026 Financial Management Report, movements involving the ordinary budget, capital investments, financing, debtors, creditors and other current assets and liabilities resulted in a net XCG 46.9 million reduction in liquid funds through the reporting period.
That occurred even as the ordinary budget recorded a provisional XCG 188.6 million surplus through June.
The capital budget recorded an XCG 18 million deficit, leaving the government with an overall realized budget balance of XCG 170.6 million through the end of the first half.
The two figures measure different things.
A budget surplus compares recognized government revenues and expenditures during a particular period. Cash flow, by contrast, is also affected by when bills are actually paid or collected, movements in outstanding receivables and liabilities, investments and financing transactions.
The government also had XCG 243.3 million in commitments at the end of June for expenses that had been entered into but had not yet materialized.
The figures therefore show that Curaçao’s strong first-half budget result should not be interpreted as an equivalent increase in money immediately available in government bank accounts.
The government currently forecasts a much smaller XCG 19 million ordinary-budget surplus for the full year, indicating that a substantial portion of the first-half surplus is expected to be absorbed as expenditures materialize during the remainder of 2026.