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Kingdom Council of Ministers does not give Aruba any instructions

Kingdom Council of Ministers does not give Aruba any instructions

The Kingdom Council of Ministers has decided not to give Aruba any instructions for 2022. Unexpected windfalls bring the deficit to 112.7 million Aruban Florins (AWG), or 53 million euros comes out. This keeps it below the agreed AWG 131 million and is an indication of this year is not necessary.

The windfalls of Aruba are after the advice of the College Aruba Financial Supervision (CAft). emerged; that is what advised the Kingdom Council of Ministers on July 13 to give the country an instruction because the government of Aruba did not have the budget in order. The CAft also saw no steps to change the balance expenditure and income. The country also does according to the CAft too little to get the housekeeping book correct for the long term.

“It is nice that the government of Aruba has had a number of windfalls at the last minute that made it deficit in the budget for this year will remain below the agreed limit,” said the State Secretary
Alexandra van Huffelen of Kingdom Relations. “This prevents an indication for 2022.”

But the concerns for the future of the country and the Arubans are certainly not gone Secretary of State and the Dutch cabinet. “We see that Aruba continues to hold huge debts, more than 90 percent of the Gross Domestic Product. That should be less than half. Now almost 19 percent of the budget is spent on paying interest. You can’t spend that money education, health care or poverty alleviation, all things that matter to the people are so very important there.”

Earlier it was agreed in the Council of Ministers of the Kingdom that the country will return to normal next year budget rules. They state that Aruba has a surplus of 1 percent of the Gross Domestic Product must have. Aruba can no longer rely on the emergency loans in 2023 from the corona period, the so-called liquidity support. “To be able to build a country, and To maintain confidence in the financial markets, it is important to have a budget that Correct. With a debt of now 5.8 billion AWG, Aruba saddles future generations with a huge account. That is why it is so incredibly important that the budget meets the agreements and there money is for all those things that Arubans want for their country,” said the State Secretary.

The State Secretary has sent a letter to the government of Aruba on behalf of the cabinet following the decision of the Kingdom Council of Ministers. It also includes replacing the existing one liquidity loans for new loans, the so-called refinancing. You have to happen next year. The letter states that a balanced budget, coupled with a reliable one implementation and adequate financial supervision by means of the Aruba Financial Supervision Kingdom Act, it is essential to be able to discuss this refinancing with each other.