Draft 2008 budget shows
NAf. 1.3 million surplus
PHILIPSBURG--The draft 2008 budget of the Island Territory St. Maarten has been pegged at NAf. 305.3 million, and shows a surplus of NAf. 1.3 million. Expenditures total NAf. 304 million, while the total income has been calculated at NAf. 305.3 million.
Finance Commissioner Roy Marlin announced these figures in a presentation at a seminar on pensions organised by Fatum insurance company and held at Belair Community Centre last Friday.
Marlin said the Executive Council expected to receive NAf. 253.5 million through tax collection. Finance is the only sector where the income exceeds the expenses. In all other sectors, the expenses are higher than the income.
The 2008 draft budget is being prepared by the Finance Department together with Hasssink and Roos Consultants and will probably be ready for public debate by the end of October.
Marlin announced that the Executive Council should approve the draft budget in the second half of September and that public debate will be expected to take place in the week of October 24 to 31.
Marlin had said in an earlier press statement that besides the 2008 draft budget, a 2009 draft budget for country St. Maarten and a draft multi-annual budget would be prepared. He also gave the expenses of the draft 2009 country budget for St. Maarten, totalling NAf. 400 million.
An estimated NAf. 95 million will be spent on Culture, Sports and Youth taking up 23.8 per cent of the total expenses. NAf. 65 million has been calculated for Justice representing 16.3 per cent of all expenses. No calculation of the expected income was given.
