WILLEMSTAD--The Committee Financial Supervision CFT had presented Cura�ao's Finance Minister George "Jorge" Jamaloodin with a negative advice on his draft budget for 2012.
CFT said up to now it was possible to cover deficits with windfalls, but from next year that will no longer be the case. Moreover, the prognosis is for economic decline and the budget does not reflect that.
CFT did commend the minister for sending the draft since June 28, which enables the committee to provide him advice before the actual budget has to be debated in Parliament. This way the Schotte cabinet has time to make the necessary adjustments.
However, the long-term sustainability of the budget depends on a number of measures to save cost and increase income that need to be introduced. CFT is worried about the lack of direction and diligence in dealing with these matters.
The committee further points out that since the start of preparations for the 2010-2011 budgets it had warned that if measures are not taken and implemented in time it will create budgetary problems. Windfalls could be used to compensate for losses before, but now the island is rather facing setbacks in terms of economic growth, pension risks, health care and education.
Source: http://www.thedailyherald.com/islands/1-islands-news/20300-cft-negative-on-curacaos-budget.html
Antigua & Barbuda Christina Aguilera BBC Egypt Energy industry Sevilla
No comments:
Post a Comment