Published On: Mon, Dec 31st, 2012

Cft demands direct approach

WILLEMSTAD – In an unsolicited opinion the Committee for Financial Supervision (Cft) show that the actions, as stated in the Draft Budget 2013, must be implemented in the first quarter of 2013.

If not, then there may be another instruction from the Kingdom Council of Ministers in The Hague, this was stated in o a letter sent to the then Prime Minister Stanley Betrian, Minister of Finance Jose Jardim and President of Parliament Mike Franco (PAIS). Cft stresses in the letter that they are convinced that the proposed measures are indeed necessary and indicates that they have their reservations on the feasibility of these measures as presented in the budget.  A general point to the various measures is that Cft has doubt that they can be implemented on time since they are still awaiting advice, legal and implementation process, according to Cft.

The measures must be implemented in the first quarter of the New Year is a financial impact is anticipated in 2013, according to Cft. The Cft will also supervise the timely execution in accordance with Article 17 of the Kingdom law.

Meanwhile, the Cft gives compliments to the Interim Government for the way the 2013 budget was established. According to the Cft, the budget has more information value, is more legible and contains more substantiated analyses. The efforts made by the Curacao Government in respect to the improvement of the financial management, have clearly paid off. The many and strong measures will ensure a “substantial premium” increase.  In combination with the economic prospects in 2013 (2.2 percent shrinkage) and 2014 (0.6 percent decline), this means that it is asked of each a substantial but necessary sacrifice to put the public finances back in order.

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