WILLEMSTAD - The economy of Curaçao is recovering so rapidly that the government's financial deficit for the whole of 2021 will be hundreds of millions of guilders lower than budgeted.
A deficit of 822 million guilders was assumed. Based on the results up to and including the 3rd quarter, the Pisas cabinet now predicts a deficit of 510 million. Due to the rapid and strong recovery of tourism, the total economy is also recovering, leading to higher incomes for the country.
“Tax revenues in the third quarter show a remarkable increase compared to the same quarter in 2020. Compared to the same quarter in 2019, realized tax revenues in the third quarter of 2021 amount to approximately 95 percent. The increase is the result of the economic growth that started after June due to the revival of tourism," according to the Financial Supervision Board (CFT).