Kingdom of the Netherlands : Aruba.

This 2019 Article IV Consultation highlights that Aruba's economic recovery continues, although at a slowing pace. The authorities have managed well the impact of the crisis in Venezuela through diversification of product markets and tourism sources. Nonetheless, a deepening of the crisis is a...

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Detalles Bibliográficos
Autor Corporativo: International Monetary Fund. Western Hemisphere Dept
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2019.
Series:IMF Staff Country Reports; Country Report ; No. 2019/148
Acceso en liña:Full text available on IMF
Descripción
Summary:This 2019 Article IV Consultation highlights that Aruba's economic recovery continues, although at a slowing pace. The authorities have managed well the impact of the crisis in Venezuela through diversification of product markets and tourism sources. Nonetheless, a deepening of the crisis is a downside risk-mainly through a potentially sizable influx of immigrants and refugees. It is recommended to identify additional reform measures to achieve Aruba's fiscal targets. These measures should involve a mix of revenue increases and expenditure restraint, and be prioritized, sequenced, equitable, and well-communicated to minimize implementation risks and ensure the measures' durability. The government devised a reform agenda with fiscal consolidation as a key pillar. Additional measures are needed to achieve the authorities' fiscal targets. The additional adjustment should contain a mix of tax reforms and expenditure rationalization. The fiscal measures in 2019 are expected to deliver a large upfront increase in revenues but it will be important to strike a balance between revenue increases and expenditure restraint in subsequent years.
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Descrición Física:1 online resource (69 pages)
Formato:Mode of access: Internet
ISSN:1934-7685
Acceso:Electronic access restricted to authorized BRAC University faculty, staff and students