PHILIPSBURG, Sint Maarten – Following the approval of the Draft 2027 National Budget by the Council of Ministers on September 7, Minister of Finance Marinka J. Gumbs delivered the Draft Budget to the Governor’s Cabinet.
The same-day delivery was undertaken to provide sufficient time for the remaining constitutional and legislative procedures, with the objective of having the 2027 Budget established within the applicable statutory deadline.
“Following the approval of the Draft 2027 Budget by the Council of Ministers, I considered it important that the Budget be delivered to the Governor’s Cabinet without delay,” Minister Gumbs stated. “This is a deliberate effort to allow the various institutions involved in the budgetary process the necessary time to carry out their respective responsibilities.”
The Draft Budget will now proceed through the required stages of review and consideration involving the Governor, Parliament, the Committee for Financial Supervision (CFT), and other relevant institutions.
The timely advancement of the Budget forms part of Government’s broader efforts to strengthen fiscal governance and public financial management, while ensuring compliance with the Kingdom Act on Financial Supervision of Curaçao and Sint Maarten and the National Accountability Ordinance of Sint Maarten.
Draft 2027 Budget
The Draft 2027 Budget provides for current expenditures of Cg 662.2 million against projected revenues of Cg 670.3 million, resulting in a positive difference of approximately Cg 8.1 million.
In addition, the Draft Budget provides for:
· Cg 221.24 million in capital investments;
· Cg 5.28 million in loans; and
· Authorization for up to Cg 52.99 million in financing for capital investments.
The proposed financial framework seeks to maintain fiscal balance while creating room for investments that support Sint Maarten’s continued development and the priorities of its people.
Minister Gumbs emphasized that Government’s responsibility extends beyond preparing and approving the Draft Budget.
“The 2027 Budget is about more than numbers. It is about establishing a responsible financial framework for the country and ensuring that Government can continue to address the needs and priorities of our people. By ensuring that the Draft Budget was delivered to the Governor’s Cabinet immediately following its approval by the Council of Ministers, we are doing everything within our responsibility to facilitate the timely establishment of the 2027 Budget in accordance with our statutory obligations.”
The Government remains committed to working constructively with all relevant institutions throughout the remainder of the budgetary process toward the timely establishment of the 2027 National Budget.
