Tuesday, July 20, 2004

St. Maart: Controlling the debt

SIMPSON BAY--Adhering to the recommendations of the National Debt Committee to put a cap on the Netherlands Antilles' approximately NAf. 3 billion debt, the Central Government is working on legislation that will "put a ceiling" on the national debt amount and budget deficit, Prime Minister Etienne Ys said at a press conference in St. Maarten Saturday.

The legislation will be sent to parliament soon and once adopted it will be binding on all future governments.

The government is working on reducing the expenses on the Central and Island levels at present. Ys said the first step was stated in the governing accord, where it is outlined that NAf. 55 million will be cut next year in areas such as public health.

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