WILLEMSTAD – Curaçao is projecting XCG 2.279 billion in ordinary government revenue for 2027 as continued economic growth, tourism activity and stronger tax compliance are expected to keep the ordinary budget in surplus.
The government expects ordinary expenditures of approximately XCG 2.195 billion, according to the 2027 budget figures. The financial plan therefore projects a positive balance on the ordinary service.
The government attributes the stronger revenue position primarily to increased economic activity, particularly tourism, inflation and improved tax compliance involving the Receiver, Tax Inspectorate, Customs and the Tax Accounting Bureau SBAB.
Tax revenue will remain by far the government's largest source of income, accounting for approximately 90 percent of ordinary revenue.
Total tax collections are projected at XCG 2.037 billion in 2027, compared with a revised projection of approximately XCG 1.946 billion for 2026.
Among the largest revenue sources are turnover tax at XCG 755.4 million, wage and income tax at XCG 426.2 million, import duties at XCG 250.2 million and profit tax at XCG 197.8 million.
The government expects the primary balance to improve significantly as well. After a projected primary deficit of XCG 12.8 million in 2026, Curaçao expects a primary surplus of XCG 51 million in 2027.
That surplus is projected to increase to XCG 64.2 million in 2028, XCG 64 million in 2029 and XCG 74.1 million by 2030.
Despite the stronger ordinary finances, Curaçao will still require financing for its capital program and debt obligations. The government projects a financing requirement of XCG 130 million in 2027.
The budget therefore presents a mixed financial picture: ordinary government operations remain in surplus, while investments and debt repayments continue to require borrowing.