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Draft 2024 budget shows modest surplus

PHILIPSBURG — The draft 2024 budget mentions 572.2 million guilders ($319.7 million) in expenditures and 574.8 million ($321.1 million) in revenue – a modest surplus of around 2 million ($1.1 million). The budget for the parliament is 7.3 million guilders ($4.1 million), an increase of 12.7 percent. Remarkable are the 23 percent increase More...

by The Publisher | Published 1 month ago
By The Publisher On Saturday, February 24th, 2024
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CFT expresses concerns about future of old age pensions

PHILIPSBURG — Financial supervisor CFT has expressed its concerns about the future of the old age pension (AOW) in St. Maarten. In a press release, the Cft notes that, starting in 2029, premiums will not More...

By The Publisher On Saturday, January 27th, 2024
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CFT foresees much higher surplus for 2023

PHILIPSBURG -- Financial supervisor CFT projects a much higher positive result for St. Maarten’s 2023 budget than the government. According to the ministry of finance the result for 2023 will be a surplus of More...

By The Publisher On Tuesday, January 16th, 2024
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Audit Chamber report is critical of travel expenditures

PHILIPSBURG — The General Audit Chamber’s audit into public sector travel contains a handful of recommendations aimed at improving accountability. Among them is the establishment of a national decree containing More...

By The Publisher On Sunday, January 7th, 2024
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Central Bank launches Caribbean guilder in March 2025

PHILIPSBURG — The Caribbean Guilder will replace the Antillean Guilder per March 31, 2025, the Central Bank of Curacao and St. Maarten announced in a press release. Initially, the bank’s 2022 annual financial More...

By The Publisher On Thursday, December 28th, 2023
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Cft remains critical of St. Maarten’s annual account

PHILIPSBURG — It is uncertain that the 2021 annual account presents an accurate picture of St. Maarten’s financial position, Drs. Lidewijde Ongering, the chairlady of financial supervisor Cft writes in More...

By The Publisher On Wednesday, December 20th, 2023
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Central Bank reaches agreement to protect Ennia pensions

PHILIPSBURG — The Central Bank of Curacao and St. Maarten (CBCS) has reached an agreement with the governments of Curacao and St. Maarten whereby there is no need for cuts in the pensions of Ennia policy More...

By The Publisher On Wednesday, December 20th, 2023
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St. Maarten hardly makes use of European support funds

PHILIPSBURG — There are twenty European funds St. Maarten could call on for financial assistance, it appears from a letter State Secretary Alexandra van Huffelen (Kingdom Relations) sent to the Dutch parliament. More...

By The Publisher On Tuesday, December 12th, 2023
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National debt stabilizes at the end of third quarter

PHILIPSBURG — St. Maarten’s national debt increased over the first two quarters of 2023 but stabilized more or less at the end of the third quarter. This appears from reviews by financial supervisor Cft. More...

By The Publisher On Sunday, December 3rd, 2023
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KSA fines gambling operator Betent more than $3 million

THE HAGUE – The Dutch gaming authority KSA has fined online gambling company Betent $3 million ($3.27 million) for violating a string of requirements. Betent operates in The Netherlands under a sub-license More...