THE BOTTOM, ORANJESTAD – Despite improving financial positions, Saba and Sint Eustatius remain deeply dependent on Dutch government funding, with local income generation still accounting for only a small share of their public finances.
That is one of the main conclusions of a new Dutch government financial review of the BES islands, covering 2021 through 2024 and the 2025 budgets.
The report shows that both islands have strengthened their balance sheets in recent years.
Saba’s equity more than doubled, rising from $12.4 million in 2021 to $27.6 million in 2024, while Sint Eustatius saw a more modest increase from $30.7 million to $34.6 million.
But unlike Bonaire, the islands’ financial growth remains overwhelmingly tied to Dutch transfers.
For Sint Eustatius, total income rose from $32.7 million in 2021 to $57.8 million in 2024, but more than $53.7 million of that came directly from the Netherlands.
That means over 90 percent of Statia’s public income now depends on Dutch support.
The biggest contributors were special grants for major infrastructure and development projects.
Among them was $20 million for the island’s cliff stabilization project and another $10 million under the Regio Deal, aimed at regional development.
Statia’s local revenue remains relatively limited.
Its own income increased only slightly over four years, from $3.3 million to $3.8 million, with the seaport, real estate activities and vehicle taxes serving as the main revenue sources.
For Saba, the dependency on Dutch support is even more striking.
In 2024, total income stood at $46.7 million, but only about $862,000 came from local revenue sources.
That means less than 2 percent of Saba’s public income is self-generated.
The bulk of Saba’s financing comes from structural and project-based Dutch grants, including major funding for sustainable energy projects and regional development.
Saba’s free annual grant from the Netherlands doubled from $13.3 million in 2021 to $26.3 million in 2024, showing how much the island’s operational budget relies on direct Dutch support.
At the same time, both islands are increasing public spending.
Saba’s spending nearly doubled from $23.3 million to almost $49 million over the period, with major increases in transport, public safety, healthcare and social services.
Statia’s spending remained more stable after a spike in 2022 linked to administrative intervention and restructuring.
One positive sign for both islands is improved financial governance.
For the first time, all three BES islands — including Statia — received clean audit approvals for both financial accuracy and legal compliance in 2024.
For Statia, this marks a major milestone after three consecutive years without approval.
The report highlights a clear reality: while Saba and Statia have stronger finances today than a few years ago, their ability to function and invest remains heavily tied to Dutch government funding.
That dependence continues to define the economic and administrative model of the smaller Caribbean Dutch islands.