PHILIPSBURG--The message from the Committee for Financial Supervision CFT to the Leona Romeo-Marlin Cabinet II on Wednesday was clear: "Get the economy rolling again."
The committee, led by Raymond Gradus, wrapped up its second quarter visit to the country and has made its sentiments known to the new ministers and stakeholders.
The manner in which the economy is recovering is "crucial," said Gradus. "It is of the utmost importance that the economic growth of St. Maarten will be stimulated through reconstruction efforts."
Stagnation in the reconstruction efforts, he added, could have a negative impact on economic growth and could delay the process of working towards a balanced budget.
St. Maarten's recovery post-Hurricane Irma is not only tied to local growth, but to that of neighbouring Dutch Caribbean islands of Saba and St. Eustatius via the reconstruction of Princess Juliana International Airport. The rebuilding there "is not only in the interest of St. Maarten, but also St. Eustatius and Saba as St. Maarten serves as an important hub for these islands."
