CAft: “Take action now to strengthen public finances and the economy”

The Aruban economy has been on the rise since 2021. According to the latest insights from the International Monetary Fund (IMF), the economy will grow by 8 percent in 2023. For 2024 a growth of 3 percent is expected. This strong recovery, combined with fiscal measures, will result in higher revenues from taxes and premiums than budgeted. The windfalls are substantial, both for the country and for the other entities of the collective sector. It is important that Aruba seizes this momentum to structurally put its government finances in order and make the economy more resilient. This is achievable by applying a prudent budget policy, using the windfalls to decrease the government debt (83 percent of GDP in 2023) and executing growth-enhancing investments. Structural reforms in health care and social security contribute to resilience.