Kingdom Council of Ministers meeting will not take place

POSTED: 01/23/14 12:52 PM

Close call on financial instruction

St. Maarten In a race against the clock St. Maarten barely avoided a financial instruction because of its 2014 budget being approved late, based on the stringent requirements of the Kingdom law on Financial Supervision.

During yesterday’s weekly Council of Ministers press briefing Prime Minister Sarah Wescot-Williams assuaged concerns and indicated that it will no longer be necessary for the Kingdom Council of Ministers to meet this Friday to ratify that instruction.

“Last Friday, the Cft gave instructions to the Minister for Interior Affairs and Kingdom Relation Ronald Plasterk to prepare an Instruction for St. Maarten then would have been ratified this Friday in the Kingdom Council of Ministers.

Given the fact that our budget is established and that our Minister of Finance has sent a letter to Minister Plasterk indicating this fact along with an approved budget being sent to the Cft, information reaching us indicate that the Kingdom Council of Ministers meeting will not take place. This is a good thing for us,” the Prime Minister stated.

In December, the board for financial supervision (Cft) advised the Kingdom Council of Ministers to give St. Maarten an instruction in the event there was no adopted 2014 budget by January 16 of this year.

The budget was only approved by Parliament last Thursday and Governor Eugene Holiday gave his seal of approval on Monday, January 20.

That budget still has to be returned to the Cft for final review before it be transformed from a financial instrument to law.  The government has budgeted 426 million 695 thousand guilders for public spending in 2014.

 

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