Shigemoto says CFT has not rejected 2011 budgetPOSTED: 02/2/11 11:47 AM
St. Maarten –Finance Minister Hiro Shigemoto says that the Committee for Financial Supervision Cft has not rejected the 2011 budget of country St. Maarten as reported in one of the daily newspapers on Tuesday.
“The headline of the news report in one of the daily papers is erroneous. The Cft has not rejected the budget. This is far from the truth. The Cft and the Government have a difference of opinion and interpretation, and we are in the process of working to resolve this to the benefit of both parties,” Shigemoto said on Tuesday.
Based on an analysis of the budget, the Cft is of the opinion that the budget is 414 million guilders compared to the 444 million guilders that was approved by the Parliament of St. Maarten back in December. The perceived difference between the CFT and the Government is a sum of 30 million guilders. The Cft has given the Government of St. Maarten until February 17 to present an adapted budget that has to also be approved by Parliament.
The overall consensus according to the minister is that dialogue will continue with respect to making sure the budget complies with the financial supervision rules and regulations that have been established. This course of action will continue between the Cft and government in order to come to a final advice.