WILLEMSTAD – The Board for Financial Supervision (Cft) has raised concerns about the Curaçao government's decision to disburse the so-called bashí bonus during the first quarter of 2025 without formal approval from Parliament. According to the Cft, no draft budget amendment has been submitted to justify this cost-of-living allowance, as required by law.
The bashí bonus—granted in the lead-up to the elections—was paid to civil servants, staff at government-subsidized institutions, and equivalent groups. While the government noted in its first-quarter financial report that prior personnel cost estimates were too high, actual expenditures exceeded even those projections.
The Cft pointed out that the government had previously been advised to update its staffing projections and that this revision should have been included in the first supplementary budget for 2025.
Budget Oversight and Transparency Concerns
A notable red flag is the fact that the last annual accountability report submitted by the government to Parliament dates back to 2018, raising serious questions about financial transparency and legislative oversight. The Cft is urging the government to improve the structure and consistency of the budget process and accountability cycle, stating that a well-ordered process is crucial to uphold Parliament’s budgetary authority.
Financial Snapshot: Q1 Surplus and Higher Revenues
Despite procedural shortcomings, the financial report—submitted late on May 28, more than six weeks after the quarter ended—does offer a broader view of public finances.
Key highlights include:
A budget surplus of 161 million guilders on regular operations for Q1 2025
Total revenues of 547 million guilders, with 530 million from taxes—36 million more than in Q1 2024
The government continues to project an annual surplus of 62 million guilders for 2025
Notably, revenues from online gaming license fees exceeded expectations, though the Cft has requested that the government specify the exact contribution from this source in its next quarterly report.
Spending Breakdown
Total expenditures amounted to 412 million guilders, which is 18 million less than in the same period last year. Costs for goods and services, depreciation, interest, and social security remained within budget limits.
However, personnel expenses, subsidies, and other payments were higher than anticipated—largely due to the unapproved bashí bonus. The Cft expressed concern that some deviations are difficult to justify, particularly in categories that should be easy to forecast, such as guarantees and depreciation.
The watchdog emphasized the importance of aligning financial planning with legal procedures, urging the government to bring its budget execution and reporting practices up to standard.
