PHILIPSBURG--Government did not have to make use of the NAf. 5 million overdraft Finance Minister Richard Gibson had requested from the bank in early December.
Asked about the overdraft at the Council of Ministers Press Briefing on Wednesday, Gibson said he was "happy to report" the overdraft was not used.
The reason for the overdraft request, he added, was to mitigate any shortfall toward the end of last year, but this do not come to pass.
The overdraft, which was to cover expenses until this week (the second week of January), was a preventative measure, Gibson said.
The coffers are expected to get a boost this month and next month with the payment of the annual Road Tax by vehicle owners.
In December 2015, Gibson had said the country’s liquidity position was “at rock bottom. “We are in a crisis,” he said.
Meanwhile, Government is awaiting the comments of the Council of Advice on the draft 2016 budget.
Gibson anticipates the receipt of the comments from the Council of Advice by "middle of this month."
Upon the receipt of the comments, Government will have to address those before the draft budget can head to Parliament for debate in a Central Committee meeting. The Minister expects the tabling of the budget at least by the end of the month.
Government has been given a deadline of January 31 to establish the 2016 budget by the Committee for Financial Supervision CFT. That Committee is tasked with ensuring the country has a realistic balanced budget based on the Kingdom Law on Temporary Financial Supervision for Curaçao and St. Maarten.
