WILLEMSTAD - According to the Board of Financial Supervision (Cft), Curaçao must limit its expenses and increase its income. Reaching equilibrium in 2023 is urgent to avoid further debt. In the short term, additional contributions from the government to social security are prevented.
According to the Cft, Curaçao currently has a debt of almost 4.2 billion guilders. In order to avoid further debts, expenditure control is urgent. The improvements in the budget and accountability cycle, financial management and the structure of the shareholding of government entities also play an important role.
Health care and social security are of great importance in the government budget. Curaçao pays 306 million guilders annually to the social funds and has to make up for shortfalls in the buffer reserve. The government has taken decisions to prevent shortages in the buffer reserves in 2022 and 2023.
The Cft reports that insufficient cuts are being made on medicines. The organization recommends taking substantial steps this year. Ultimately, this should lead to a lower national contribution from the government to social funds.