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St. Maarten 2012 draft budget still with Advisory Council


PHILIPSBURG–The draft 2012 country budget is still in the hands of the Advisory Council. Finance Minister Hiro Shigemoto is awaiting the completion of the council’s review to send the budget on to Parliament.
The budget has had approval of the Committee for Financial Supervision CFT since January 13; this approval confirms that the draft meets with the requirement of the Kingdom Law on Temporary Financial Supervision for Curaçao and St. Maarten.

The CFT will render a formal (positive) advice on the budget after it is handled and approved by Parliament. The only way the positive advice will change is if Parliament makes changes to the budget that would affect its zero balance.

The Advisory Council has had the budget since early November. “We are waiting for the Advisory Council to give its advice, so we can send the budget on to Parliament,” Shigemoto told The Daily Herald.
He hopes the budget is returned to government as soon as possible to allow its handling to start in Parliament at the latest mid-February.

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