WILLEMSTAD - The government has taken note of the advice given by the Financial Supervision Board (CFT), in which it advises the Council of Ministers of the Kingdom (RMR) to decide on an instruction to Curaçao regarding the 2019 budget. The CFT had previously indicated that it expected the budget does not meet the standards in accordance with the Finance Act.

On 27 March the government sent a letter to Dutch Prime Minister Rutte, as chairman of the Kingdom Council of Ministers, appealing to Article 25 of the Financial Supervision Act. This article offers the possibility, with the approval of the Council of Ministers of the Kingdom, to deviate from the budget norms as laid down in the Kingdom Act. The government states in its letter that there are extraordinary events that are affecting the economy, budget and community. These circumstances are so evident that an appeal is made to the exceptional article in the National Act.

The CFT indicates that it is up to the Kingdom Council of Ministers to decide whether the instruction will be issued and, if so, what the precise content will be. Before the instruction is given the government of Curaçao will receive the opportunity to give its vision. The government of Curaçao will use this, in addition to the recent letter to Prime Minister Rutte.