De Lannooy satisfied with annual statement of accounts

WILLEMSTAD — The annual statement of accounts on 2008 of the Netherlands Antilles closed with a negative deficit on the (exploitation part of) the general service of 46 million guilders, and a credit balance of 217 million guilders on the capital transactions (the investment and financial part).


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The long-term national and international debts amounted to 2.6 billion guilders. Past Wednesday, Minister of Finances Ersilia de Lannooy presented a recapitulation of the annual statement of accounts on 2008 of the central government and expressed her satisfaction with the final-result.
The negative deficit of 46 million guilders on the general service is determined for the major part by the standing debt of nearly 147 million guilders. Without this back interest, there would be a question of a surplus of 100 million guilders. The most important expenditure entries of the central government – besides the interest burdens – are the personnel costs of the government apparatus (342 million guilders), the transfers to the island governments (380 million guilders), and the governmental companies (102 million guilders).
The ministries of Finances and of Justice, for respectively 734 million and 214 million guilders, are responsible for the largest expenditures.
Amounts are also included within the ministry of Finances that do not regard the performance of that ministry, such as the pension expenses for the entire apparatus, the transfers to the island territories in the framework of the re-division of the tax means, the Erna (Islands Regulation Netherlands Antilles) transfer to the island territory Curaçao, the contribution of the Land to the solidarity fund, and the provision to cover for the deficit in the Medical Expenses Fund.
Government pensioners (FZOG) and the interest burdens on debts are attributed to the various ministries.
Opposite the expenditures, there are – in particular – the indirect tax revenues of 773 million guilders as well as the 25-percent share of the Land in the direct tax revenues, generated by the island territory Curaçao of 139 million guilders.

The capital service therefore closed with a positive credit balance of approx. 217 million guilders. As known, it was agreed upon with the Netherlands that they would fulfill the obligation of taking over the debt of the Netherlands Antilles, Curaçao, and St. Maarten as of the status per December 31st, 2005 up to the interest burden norm.
This includes the debts, which were contracted since then for the re-financing of that debt and the financing of the interest on that debt. There was more financing in 2008 than necessary for the covering of the financing requirements in 2008. The difference is meant for covering the expired debts from 2006 and 2007 to the status of December 31st, 2005 and the financing of the interest on those debts.
For that matter, the investments for the benefit of the own apparatus of 13 million guilders form a modest part of the capital service.
The status of the long-term debts (national and international) per ultimo 2008 amounts to 2.6 billion guilders. The gross debt quote, expressed in a percentage of the Gross National Product, amounts to 37 percent. Opposite the long-term debts, there’s an amount of 712 million guilders on issued money loans, primarily to the island territories of the Netherlands Antilles