The Advisory Council on Curaçao is deeply concerned about the declining prosperity of Curaçao. In their opinion on the budget for 2024, it is noted that the population of Curaçao decreased by 10,000 people between 2018 and 2021 due to the decline in prosperity.
The Council advised the Government to enter into consultations with the social partners in order to take measures to combat growing poverty and improve the quality of life.
The Council considers that factors such as unemployment, purchasing power, economic growth, the quality of education and infrastructure are contributing to the decline in prosperity on the island. This leads to a negative spiral in which families are caught, which has an impact on education and, ultimately, on the attractiveness of foreign investment.
ENNIA
The Commission notes that the Commission has not provided any information on the financial situation of ENNIA. The Council considers that the Government should provide more clarity on this matter and make plans to avoid similar situations in the future. The Central Bank’s supervision of financial institutions should also be strengthened.
Despite the fact that the 2024 budget is of better quality than that of previous years, there are still points that need attention.
For example, according to the Council, there is a lack of concrete information on the government’s aims and intentions. Moreover, the same objectives are mentioned again and again in successive budgets, without indicating how far they have been implemented. Finally, the Council notes another major risk for the 2024 budget: there is uncertainty about invoices coming in at the end of the year and still to be paid. According to the Ministry of Finance, at the end of 2022 there were 90 million guilders in invoices and only 30 million guilders reserved for payment, which could lead to a budget deficit. The Advisory Council calls for a solution to this situation in order to restore confidence in financial management. curacao.nu