Aruba continues on a positive path of economic and financial development, strengthening the nation’s fiscal profile. According to Fitch Ratings’ latest assessment, Aruba retains a “Positive Outlook,” a recognition that reflects both the government’s responsible management and the country’s solid economic foundation.
Minister of Finance, Economic Affairs and Primary Sector, Mr. Geoffrey Wever, stated: “This outcome confirms that Aruba is on the right track: we are achieving fiscal surpluses, reducing debt, and our economy continues to grow. This is the result of fiscal discipline, planning, and a firm commitment to a sustainable Aruba.”
Tourism Growth – Tourism remains a key pillar of Aruba’s economy. In the first seven months of 2025, the island welcomed 904,000 visitors, a 5% increase compared to last year. Growth has stabilized after the post-Covid rebound, with a greater focus now on increasing visitor spending and diversifying the experience.
Debt and Fiscal Stability – Thanks to strong surpluses, Aruba’s gross government debt declined by 3.1% year-on-year and is projected to fall to around Afl. 4.9 billion (57% of GDP) by the end of 2025. Lower debt levels reduce interest costs, freeing up resources for overdue public services.
Institutional Framework Progress – Fitch also noted ongoing steps toward adopting the “Rijkswet” fiscal framework. This process, currently under public consultation, will strengthen Aruba’s institutional structure with oversight from both the Netherlands and Aruba, while potentially reducing interest rates on pandemic-related loans.
Inflation and Reserves – Consumer prices remained stable, with inflation at just 0.7% over 12 months to July 2025. July itself showed a slight decline of -0.1%. Meanwhile, the Central Bank of Aruba maintains a 12.5% reserve ratio to safeguard stability, with international reserves exceeding USD 2 billion as of April 2025.
Minister Wever concluded: “As an independent institution, Fitch confirms that all indicators show Aruba is on a path of stability and optimism. Our goal remains clear: to strengthen our economy, safeguard public finances, and build a prosperous future for every citizen.”
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