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Budget for 2013 approved by Council of Ministers |
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Saturday, 02 March 2013 19:39 |
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Friday morning the Council of Ministers approved the island's 2013 Budget. The financial deficit of the budget for 2013 is projected to be 223 million Aruban Florin, which is a considerable reduction of 184 million florin compared to what was inherited at the end of 2009, Minister of Finance Mike de Meza said.
The Mike Eman Cabinet has been able to push back the deficit with responsible public finance management. They lowered the deficit, which was 9.4% of the Gross Domestic Product in 2010 to 7.1% of the GDP in 2011, 5.6% in 2012, and for 2013 have calculated the decrease will result in a deficit of 4.5% of the GDP. Minister De Meza explained the deficit should be at the international norm of 3% of the GDP. In addition, he said, with all positive developments in the tourism industry Aruba is expecting a 3.5% economic growth. The financial deficit for 2013 is 223 million Florin, which is 50 million less than it was last year.
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