Draft 2012 budget St. Maarten sent to governor


PHILIPSBURG--Finance Minister Hiro Shigemoto sent the draft 2012 budget to Governor Eugene Holiday on Friday afternoon. The Governor now will have to forward the budget to Parliament for debate and approval.
The draft budget already has the pre-approval of the Committee for Financial Supervision CFT. The approval indicates that the budget meets the requirements of the Kingdom Law on Temporary Financial Supervision for Curaçao and St. Maarten. It also indicates that the budget is balanced.

CFT will issue a formal approval on the budget after it receives Parliament's stamp of approval and providing Parliament makes no structural changes that affect the budget numbers.

The 2012 draft budget stands at NAf. 432,549,600, which is NAf. 11.6 million more than last year's budget of NAf. 420,916,597. The figures of the 2011 budget are being used by government until the 2012 budget is approved by Parliament and CFT and signed into law by the Governor and the Finance Minister.