Published On: Wed, Oct 23rd, 2013

CFT: Public finances back on track

CFT1WILLEMSTAD - The Committee for Financial Supervision (CFT) announced this afternoon at a press conference that the public finances of Curaçao are becoming more balanced. "Curaçao had to implement a substantial austerity package after the designation was given from the Kingdom Council of Ministers," said the CFT chairman, Age Bakker. "But this also means that the 2013 budget is on track."

The CFT has met this week with Acting Governor Adele van der Pluijm -Vrede , Prime Minister Ivar Asjes, Minister of Finance Jose Jardim, the Council of Ministers and the Finance Committee of Parliament. In addition, the Board met with Minister Etienne van der Horst of Government Policy and Services and the Steering Committee optimization functioning government apparatus.

Currently the CFT is testing two of the six judgments of the instructions namely compensation of deficits from previous years and the hiring freeze. "The Government has indicated that the deficits from previous years will be compensated in accordance with the instructions," said Baker. With the hiring freeze, the government should work with a smaller but more effective staff which reduces costs. “If the actual figures for the year 2013 shows that the savings in personnel costs are achieved then the Committee intends to remove this instruction from the list starting in 2014. “Bakker added that if Curaçao continues to sail on this course and then may be that the financial instructions given by the Kingdom Council of Ministers will become a thing of the past.

By Aruna Jhagru

Click Tag(s) for Related Articles: