Finance Minister Marinka Gumbs.
PHILIPSBURG--Finance Minister Marinka Gumbs in conjunction with Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) Grisha Heyliger-Martin, will be exploring the possibilities of implementing “overflight fees” – charging airlines and operators that use the country’s airspace – as a potential revenue stream for the country.
Gumbs said on Monday that the fees come from airlines or operators who often have to fly over multiple sovereign airspaces. “They pay for the use of air navigation services of each country they overfly. This is an internationally accepted practice. In fact, many Caribbean countries such as Barbados, Dominica, Trinidad and Tobago, etc., derive significant revenue from granting the rights to overfly their airspace,” Gumbs said in her presentation during the start of the debate on the draft 2025 budget in a public meeting of Parliament on Monday.
“Our strategic location in the Caribbean places us on the flight paths of many transatlantic and regional routes. By leveraging our geographic position, we can explore this new revenue source without directly increasing costs for our people,” she said.
Gumbs said government is looking at ways to increase government revenue and this is one revenue stream that can be explored. “It is, therefore, my intention as your Minister of Finance, in conjunction with my colleague, the minister of TEATT, to explore the possible implementation of overflight fees as a potential revenue stream for the country.”
She stressed that her goal will always remain the improvement of collection efforts, both within the Ministry of Finance and by encouraging other ministries to focus on collecting all outstanding funds. Exploring new revenue streams, she indicated, will also continue to be a key focus, whether within the Ministry of Finance or in collaboration with other ministries.
“As Minister of Finance, my overall goal is to ensure the sustainability of our country and its financial future,” she noted.
https://www.thedailyherald.sx/islands/govt-to-explore-charging-airlines-to-use-airspace-as-revenue-stream
