Published On: Mon, Oct 14th, 2013

No Surplus in 2012

Jose JardimWILLEMSTAD – Some factions in Parliament have recently hinted that the budget for the year 2012 ended with a surplus.

According to the Ministry of Finance, these insinuations are based on wrong assumptions by these factions. Apparently they only looked at the figures which are presented in the first supplementary budget, which was submitted by the Cabinet Schotte regarding the financial year 2012. The image outlined therein has already deteriorated in the amendment with approximately 5.9 million guilders (also presented by the Cabinet Schotte). Therefore, the expectation was created by the Cabinet Schotte that the Ordinary service would close with a surplus of about 38.2 million guilders.

But these figures were part of the reason for the well-known ‘instruction’ of the Kingdom Council of Ministers that Curacao had to put its public finances in order because the image, until then included in the budget documents, including designs, was not truthful.

Subsequently, the second supplementary budget, submitted by Cabinet Betrian, shows a true picture of the public finances. In this submission, the balance for the year 2012 was set with approximately 88.1 million ANG lower, which should close the year with a deficit of around 50 million guilders instead of a surplus. It should be noted that this second supplemental budget was approved by the Parliament. On top of it seems from the financial statements (which are an actual numerical representation of the budget execution) for the year 2012, that the financial year 2012 ended with a higher deficit on the regular service of 73 million guilders.

The discrepancy in relation to the second supplementary budget is mainly due to obligations that were later found.

Click Tag(s) for Related Articles: