WILLEMSTAD - It seems that the year 2020 has ended with a deficit of 811 million guilders. The forecast for 2021 was already known earlier: this year a deficit of 822 million is assumed.
This is evident from figures from the Financial Supervision Board. The Kingdom Council of Ministers in The Hague decided last November that Curaçao may have a maximum budget deficit of 685 million guilders. A total of 668 million guilders was allocated to liquidity support last year.
A major cost item was the takeover of the Giro Bank for 267 million guilders. The Central Bank of Curaçao and St. Maarten (CBCS) previously came up with the plan to increase the license fee in order to close the gap.
The license fee is currently 1% of the value of all transactions that take place from a resident to a non-resident and when purchasing foreign currency. The amount collected by the Bank is ultimately destined for the government.