Unbiased look at the Sint Maarten Elections
That Social and Health Insurances SZV remains positive about reaching agreement on what it is owed by government (see Wednesday paper) can be considered good news. The Committee for Financial Supervision CFT last month had set an end-of-May deadline for making arrangements with both SZV and the general pension fund APS on arrears totalling respectively 87 and 70 million guilders, with 75 million still in dispute back then.
In addition, the Gumbs cabinet was to substantiate an extra 15 million guilders in revenues to achieve the income of NAf. 445 million on the 2015 budget. If not, an instruction regarding public finances from the Kingdom Council of Ministers can be expected, with all possible consequences.
It must be said, up to now there are continued differences between government and these two entities on the exact amounts, which are, of course, essential when making payment arrangements. There is also an added element where it concerns APS, which was to invest in the no-longer-very "new" Administration Building that has remained empty since the structure was delivered 2008, so it finally can be put to use.
The latter is being incorporated in a deal on the debt to the public sector pension fund and that understandably takes some doing. However, time is running out quickly and the sooner this matter is concluded, the better for all involved, but also for society in general.
For one thing, CFT has promised to advise deferring the compensation for previous deficits until 2018. As it regards a total of NAf. 52 million, this is obviously helpful in terms of balancing the budget.
Finance Minister Martin Hassink has his work cut out for him, especially because he is counting on certain contributions from the Central Bank, TelEm, Princess Juliana International Airport SXM, the water company and Bureau Telecommunication and Post (BTP) that in several cases are yet to materialise. If those can't be realised he'll probably be forced to introduce substantial cuts in the planned expenditures of the various ministries.
