Kingdom Council of Ministers gives Financial Instruction to Sint Maarten
- Published in Soualiga News 3
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Chairman of the Kingdom Council of Ministers Dutch Prime Minister and Minister of General Affairs Mark Rutte
THE HAGUE, the Netherlands – On Friday, September 4 in The Hague, during the Kingdom Council of Ministers meeting, an instruction was approved for Sint Maarten to bring its 2015 budget and multi-year plans up to date. The decision for the instruction is based on the advice of the Financial Supervision Committee for Curacao and Sint Maarten Cft.
The Sint Maarten Council of Ministers has to reduce arrears of Naf.189 million and budget shortfalls for previous years amounting to Naf.60 million. The latter should be compensated for in the period of 2015 to 2018.
Steps also need to be taken to make the pension and health care system of the country sustainable for the future.
The corrective measures to be taken should be presented in a budgetary amendment to the 2015 national budget no later than October 31, 2015.
Cft will assess whether the budgetary amendment contains the corrective measures and that those are sufficient to turn around the situation.
Sint Maarten has until the end of 2016 to implement the necessary measures needed to create a sustainable pension and health care system.