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Debt ceiling a concern for Finance Minister

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Debt ceiling a concern for Finance Minister

PHILIPSBURG, St. Maarten - The Ministry of Finance is worry about the debt ceiling, echoed Minister with the responsibility for Finance, Roland Tuitt.

In addressing that issue at the Council of Ministers press briefing this week, at which time, matters regarding the budget was being addressed, the Finance Minister stated that based on the calculations of the debt ceiling, they can spend some 29 million guilders on paying interest during a year.

Whilst elaborating on the subject, Minister Roland Tuitt stated that based on the interest rates that are being paid; this will calculate to around six hundred million guilders that government can borrow.

The Finance Minister further stated that when the debt of the Netherlands Antilles was taken over, St. Maarten received its share of three hundred and two million guilders.

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