St. Maarten finance minister Shigemoto sends Financial Overview Memorandum to Parliament

POSTED: 05/26/11 12:29 PM

St. Maarten – Minister of Finance Hiro Shigemoto sent his Financial Overview Memorandum (Voorjaarsnota) to Parliament last week. The Financial Overview Memorandum to Parliament gives an outline about the status of financial affairs of the country St. Maarten since the island became a country on 10-10-10.
The overview provides insight into the period prior to 10-10-10 and the many changes that took place and directly impacted the financial situation of the new country St. Maarten. The Minister also mentions changes, some with no impact, some with positive and negative consequences as well as opportunities to improve the quality of life of the nation and opportunities to build towards an efficient satisfying level of public services. Minister Shigemoto in his introduction to the 12-page document points out that there must be the will to work together and not work against each other in order to realize the opportunities that exist for the country and its people.
The Financial Overview Memorandum sections provide information on economic growth; the informal sector, the shadow economy; national debts and budget deficits; public service level and quality of life; dismantling of the Netherlands Antilles; the year 2010 up to 10-10-10; the period 10-10-10 up to December 31, 2010. Other areas covered are the first quarter of 2011; other (budget 2011, acceptable tax burden, interest norm, budget 2012); structural measures to balance the budget on the long-term; and closing remarks.
“I am looking forward to debating the Financial Overview Memorandum during the handling of the first country St. Maarten 2011 budget which has a zero deficit. During this debate our community will learn more about the national financial state of affairs of our country and what is being done to improve our countries financial management with the quality of life being the main goal,” Shigemoto said on Wednesday.

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