Drastic measures unavoidable for Curaçao

The government of Curaçao has been given until coming March 6th to present solutions for a minimum amount of 127 million guilders with which the 2019 budget can be balanced. Just like it was the case the previous two years, this year again a budget deficit seems eminent, based on which the standards laid down in the Kingdom Act on Financial Supervision cannot be met. Therefore, substantial and urgent measures are needed to balance the Curaçao budget. The measures will need to have an effect that lasts for several years, because also on the long term a considerable shortage is foreseeable.