According to Minister Gibson Sr. the 2018 budget will be the third consecutive balanced budget that the current government has produced.
“With budget 2018, the last tranche of deficits buildup since 10-10-10 will be paid off. Publicly, the CFT has already stated St. Maarten finances are back on track,” Minister Gibson Sr. said, adding that this historical accomplishment was not easy, whilst referring to the challenges.
“It took sacrifice. It took dedication and hard work,” he said. It is against this backdrop that Mr. Gibson also said this could not have been accomplished without the full cooperation of the Prime Minister and all the Ministers of the government.
The Finance Minister also made reference to the dedicated service of civil servants of all the ministries, and in particular, the Ministry of Finance, who had to continuously endure his continued demand for fiscal disciplines, timeliness and professionalism.
“You will recall recently that St. Maarten got approval for 21.6 million guilders for capital expenditures and that bonds have been floated for that 21.6 million guilders and the interest rate on these bonds will be 0.83%,” the Minister asserted.