PM: Country St. Maarten’s entire financial management needs to be assessed

POSTED: 06/27/13 3:27 PM

St. Maarten – Finance Minister Martinus Hassink will be preparing a vision document regarding the budgetary procedures and measures for the Council of Ministers handling next Tuesday.

The new minister has already prepared a document outlining the steps to be taken towards preparations for the 2014 budget, Prime Minister Sarah Wescot-Williams related on Wednesday. In the meantime, the government continues to await the outcome of final vetting and approval of the 2013 budget by the Cft.

“The budget as approved by parliament goes out from several assumptions of revenue that would necessitate legislation and that legislation is not yet finished. We need to look seriously at whether the amount for some of the revenue sources as budgeted and where we are today, whether those assumptions can be fulfilled and realized. That is what the minister of finance is doing currently,” the prime minister explained.

In the meantime, the law establishes that St. Maarten has to manage its finances on the basis of the 2012 budget.

“Those are some of the actions that the Minister of Finance is putting in place and are expected to be ratified by the council of ministers next week,” the Prime Minister added.

Once this is done, the directives for the overall organization of the financial management for 2013 and the preparations for the 2014 budget will go into effect.

The prime minister also responded to criticisms leveled by parliamentarians earlier this week that the country’s economy was under threat with the budget still being tied up in bureaucracy.

Apart from the budget, the prime minister said that government’s whole financial management is cause for concern.

“But I really think that we need to start looking at the bigger picture of this country going forward because there are some challenges out there and nevertheless as a government and the private sector, we want to make sure that our economy continue to grow that we can provide employment and that both the private and public sectors can make investments. To come to these types of decisions, we need to undertake collective action.

This is the message, the prime minister said, she will be emphasizing in weeks to come.

 

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