Cg.8.1M surplus, 670.3M revenue projected in the draft 2027 budget

Cg.8.1M surplus, 670.3M revenue projected in the draft 2027 budget PHILIPSBURG--The Draft 2027 National Budget provides for Cg 670.3 million in projected revenues and Cg 662.2 million in current expenditures, resulting in a positive difference of approximately Cg 8.1 million. Minister of Finance Marinka J. Gumbs delivered the draft budget to the Governor's Cabinet on September 8, one day after the Council of Ministers approved it. The same-day delivery was intended to give the institutions involved in the budget process sufficient time to complete the remaining constitutional and legislative procedures, with the goal 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,' Gumbs stated. The draft budget now moves through the required stages of review and consideration involving the Governor, Parliament, the Committee for Financial Supervision and other relevant institutions. In addition to the projected revenues and current expenditures, the draft budget provides for Cg 221.24 million in capital investments and Cg 5.28 million in loans. It also includes authorization for up to Cg 52.99 million in financing for capital investments. According to the Minister of Finance, the proposed financial framework is intended to maintain fiscal balance while making room for investments supporting Sint Maarten's continued development and the priorities of its people. The Government's fiscal efforts also include strengthening fiscal governance and public financial management and complying with the Kingdom Act on Financial Supervision of Curaçao and Sint Maarten and the National Accountability Ordinance of Sint Maarten. Gumbs said Government's responsibility extends beyond preparing and approving the draft. '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.' Government is committed to working with the relevant institutions throughout the remainder of the budget process toward the timely establishment of the 2027 National Budget.