Published on : Tuesday, April 19, 2016
The economies of Curacao, St Maarten and Aruba remain vulnerable as they are too much dependent on tourism. These three countries in the Caribbean have to focus on more than just tourism, NAM News Network reported in an article.
This is according to special teams in charge of financial monitoring of the islands. These committees presented their findings for the year 2015 last Wednesday.
All three countries have made progress in sorting out their home finances, but to improve financial management remains a major challenge, say the members of the committees.
The three islands’ growth last year was modest: between 0.1 and 0.5 percent.
For Aruba and St Maarten, this means a clear drag on the economy. Curacao just ended a period of economic contraction.
The financial supervision for the three special municipalities (public bodies) Bonaire, St Eustatius and Saba is positive about economic developments there.