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...
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...
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...
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...
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...
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...
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...
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...
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...
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...