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PB2021-027 “A stronger relationship with the European Union may improve Curacao’s social and economic performance only if the current economic weaknesses are addressed accordingly”

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“A stronger relationship with the European Union may improve Curacao’s social and economic performance only if the current economic weaknesses are addressed accordingly”

WILLEMSTAD/PHILIPSBURG – Over the past two decades, the economic performance of Curaçao has been poor characterized by an average real GDP contraction of 1.1% per year between 2001 and 2019 and a high unemployment rate of 19.1% in 2019. Oftentimes, it is suggested that a stronger relationship with the European Union (EU) may improve Curaçao’s economic performance and social conditions. “An analysis of the economic performance of a selection of European overseas territories, including Curaçao, suggests that stronger ties with the EU does not guarantee a better economic performance if economic weaknesses are not addressed accordingly”, as highlighted by the Executive Director of the Centrale Bank van Curaçao en Sint Maarten (CBCS), dr. Jose Jardim, during his presentation at the Europe Direct Curaçao seminar that was held on November 4, 2021.

 

Last updated: 10.11.2021 10:11