Cft: ‘Curaçao is facing a major challenge’

The deficit of Curaçao for 2018 of ANG 53 million threatens to increase further and become considerably higher than was anticipated until recently. For 2019, the Board of financial supervision Curaçao and Sint Maarten (Cft) is taking into account a shortfall of more than ANG 100 million due to financial setbacks. The Cft ascertains that Curaçao is taking steps to improve its tax collection. At the same time, effective measures to reduce expenditures are still not being executed. Reducing expenditures is necessary and urgent, both to decrease the considerable deficits and to control the risks of the dwindling foreign exchange stock of Curaçao.