Fiscal reform will be eliminated from the 2020 national budget

ORANJESTAD- During a conference call between Prime Minister Evelyn Wever-Croes, Prime Minister of Curacao Eugene Rhuggenaath and Prime Minister Silveria Jacobs of Sint-Maarten, the leaders discussed the developments in the Netherlands and about economics and how they would finance the effects caused by the Corona Virus.

All the partners of the Kingdom have to deal with their challenges in these times of crisis due to this pandemic. The effects of the Coronavirus is as severe as it is to all the smaller partners in the Kingdom.

A consensus has been reached between the parties and the Netherlands has shown its willingness to help find funds through the European Union as well as help finding finance at favorable low-interest rates on the international market, not only to help cover costs caused by the Coronavirus but also to help provide aid to those in need.

The Prime Minister indicated that it is important to get the budget 2020 approved first, as having an approved budget is crucial in getting loans on the international market. The budget is currently at the Parliament and includes a relief package based on two elements, aid to employees and support to companies affected by this ongoing crisis.

The Prime Minister also said that the Government has withdrawn the fiscal reform package from the budget proposal due to the changed and very difficult circumstances caused by the Coronavirus. For the time being, none of the changes in fiscal reform will be introduced. The Government is mainly focusing on dealing with the crisis and finding a solution for the community and businesses.

The Prime Minister emphasized that they will need to cut costs in the budget. “Since we are in times of crisis everyone will have to tighten their belts. Everyone will have to sacrifice in order to arise after this crisis”.

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