• Search

PB2021-012 AR 2020 Multiannual plan crucial for restoring a balanced budget

View the complete publication in:  (English) (Dutch) (Papiamentu)

As in most countries in the world, the public finances in Curaçao and Sint Maarten deteriorated considerably in 2020 on the back of the COVID-19 pandemic. President of the Centrale Bank van Curaçao en Sint Maarten (CBCS) Richard Doornbosch stated in the CBCS 2020 Annual Report that in both countries the current budget deficit widened significantly in 2020 compared to 2019, due to a decline in government revenues combined with an increase in expenditures. In addition, the debt-to-GDP ratio rose significantly in both countries. Therefore, according to Doornbosch, having a multiannual plan to achieve a balanced budget is crucial for both countries to achieve sound public finances.

Last updated: 03.11.2021 12:11