GREAT BAY--The Government of St. Maarten is projecting Cg 670.3 million in revenue against Cg 662.2 million in current expenditures in its Draft 2027 National Budget, leaving a positive difference of approximately Cg 8.1 million.
The proposed budget also includes Cg 221.24 million in capital investments, Cg 5.28 million in loans, and authorization for up to Cg 52.99 million in financing for capital investments.
The Draft 2027 National Budget was approved by the Council of Ministers on September 7 and delivered by Minister of Finance Marinka J. Gumbs to the Governor’s Cabinet immediately following its approval. Government said the same-day submission was intended to provide sufficient time for the remaining constitutional and legislative procedures and improve the chances of having the 2027 Budget established within the statutory deadline.
“Following the approval of the Draft 2027 Budget by the Council of Ministers, I considered it important that the Budget be delivered to the Governor’s Cabinet without delay,” Gumbs stated. “This is a deliberate effort to allow the various institutions involved in the budgetary process the necessary time to carry out their respective responsibilities.”
The Draft Budget will now move through the required stages of review and consideration involving the Governor, Parliament, the Committee for Financial Supervision (CFT), and other relevant institutions.
Government said the timely advancement of the budget forms part of broader efforts to strengthen fiscal governance and public financial management while complying with the Kingdom Act on Financial Supervision of Curaçao and St. Maarten and the National Accountability Ordinance of St. Maarten.
According to the Finance Ministry, the proposed financial framework seeks to maintain fiscal balance while creating room for investments intended to support the country’s development priorities.
Gumbs said Government’s responsibility extends beyond simply preparing and approving the budget.
“The 2027 Budget is about more than numbers. It is about establishing a responsible financial framework for the country and ensuring that Government can continue to address the needs and priorities of our people. By ensuring that the Draft Budget was delivered to the Governor’s Cabinet immediately following its approval by the Council of Ministers, we are doing everything within our responsibility to facilitate the timely establishment of the 2027 Budget in accordance with our statutory obligations.”
Government said it will continue working with the relevant institutions through the remainder of the budget process toward the timely establishment of the 2027 National Budget.
