THE HAGUE, WILLEMSTAD - The Kingdom Council of Ministers has decided to provide the remaining 181 million guilders in liquidity support to Curaçao under the third tranche. It has also been decided that Curaçao may have a maximum budget deficit of 685 million for the entire year 2020.
In a letter to the Second Chamber of the Dutch Parliament, Undersecretary Raymond Knops of Kingdom Relations writes that the island will be given the space to deviate from the statutory budget norm as a result of the Covid-19 crisis. According to the Financial Supervision Council, the total liquidity requirement for the remainder of the year is 286 million guilders.
The Kingdom Council of Ministers will determine the extent to which deviations from this standard may be made at a later date. It will also be considered later whether other norms from the Kingdom Act may be deviated from.