News item | 29-08-2025 | 15:00
The Rijksministerraad has agreed to the proposal for the Consensus Rijksrijk Act Aruba (Rijkswet Hofa). The internet consultation for the bill can thus start. With the Consensus Rijkswet, Aruba is working in collaboration with the Netherlands to maintain healthy public finances in order to be able to invest in the long -term in the future of the country.
The Consensus Rijkswet goes hand in hand with the National Ordinance Guaranteeing Public Finance (LWHO). This is a law of the country of Aruba itself in which the standards for the Aruban government budget are included. These standards are based on guidelines of the International Monetary Fund and contribute to keeping the expenditure in balance.
State Secretary for Marum of the Interior and Kingdom Relations: “The fact that there is now a bill is marking an important step in the collaboration between Aruba and the Netherlands. It is an example of how good and constructive collaboration can lead to a result that everyone can be proud of. With attention and respect for each other’s views, we have a proposal for a Consensus Rijkswet that is in the interests of the Consensus Rijkswetwet of the Want to Direct the Aconsensus Rijkswetwet of the Assertswetwet Consensus Wetwet. To make investments in, for example, education, care and economy. ”
Prime Minister Eman: “Completing this agreement is an important investment of Aruba in its reliability. A reliability that must form the basis for a permanent relationship within our Kingdom, with a renewed vision aimed at strategic cooperation in the pursuit of the common good of Aruba, the Netherlands and the entire Kingdom.”
Budget standards
The Consensus Rijksrijk Act Aruba STRAID REGULATES THE STANDINGS FOR ACHEN AND MAKE OF SHULTIBLE Public Finance. It also arranges the way in which the National Minister of Aruba supervises Aruba. The Aruba Financial Supervision (CAFT) college continues to advise both Aruba and the National Minister Council in the context of financial supervision. This advisory role is temporarily in nature and is expired if Aruba meets the standards. A budget chamber to be set by Aruba will then take over the role of the CAFT.
Lower interest rates on loans
The Consensus Rijkswet offers many benefits to Aruba. For example, in the long term, Aruba will pay a lower interest rate for the loans they have taken out at the Netherlands during the COVID Pandemie and the Netherlands is willing to refinance loans that Aruba has on the American capital market. Aruba can then spend the saved interest on investments in its own country. In addition, it becomes possible for Aruba to make use of the favorable conditions that the Netherlands has when registering for loans. In this way it becomes possible for Aruba to borrow capital for making public investments at a lower interest rate. This is limited to the debt of Aruba.
Aruba also includes additional provisions in its own national regulations. Aruba will set up its own budget chamber in the effect of the Consensus Rijkswet, as an adviser to the Aruban states and the government. When the Consensus Rijksrijkwet expired, the budget chamber will take over the position of the CAFT. Change or adoption of national regulations is only possible with the approval of the National Minister of Ministers. The proposal for the Consensus Rijkswet states that the effect of the law is evaluated every five years during the term.