WILLEMSTAD – Curaçao’s public finances have deteriorated sharply in 2025, with the government recording a provisional deficit of Cg 240.3 million on the regular budget, according to the Financial Management Report (FMR) for September 2025 published by the Ministry of Finance.
The outcome stands in stark contrast to earlier expectations. While the original forecast for 2025 anticipated a positive result of Cg 62.2 million, the cumulative results up to September show a significant reversal, driven mainly by higher subsidies, rising transfers, and structural weaknesses in financial control.
Despite the negative balance, tax revenues exceeded expectations. Total tax collections reached Cg 1.389 billion, outperforming projections by Cg 36 million. Higher income tax, profit tax, turnover tax, and transfer tax revenues all contributed to the stronger intake.
However, these gains were outweighed by substantial overspending, particularly in helping government entities and nonprofit institutions. The government acknowledges that the financial norms requiring a balanced ordinary budget were not met and says updated forecasts will follow in the next reporting cycle.