On Monday morning, Minister of Finance, Economic Affairs, and Primary Sector, Geoffrey Wever, met with a delegation from the International Monetary Fund (IMF) as part of the Article IV Consultation Mission for 2025. The mission, which runs from September 23 to October 6, will focus on Aruba’s current and future developments in the financial, economic, and monetary sectors. The IMF delegation is headed by Mr. Marco Arena, Mr. Justin Thyme, Ms. Olga Bespalova, and Ms. Toyosi Ojo.
Following the IMF’s “pre-visit” in October of the previous year, which was preparation for this mission, Minister Geoffrey Wever and the IMF have worked on developing Aruba’s financial and economic vision and management strategies.
Economic growth is a key topic, particularly considering geopolitical developments, war, and the potential impact of trade wars on Aruba’s economic growth. With a direct link between the economy and public finances, Minister Wever discussed the execution of the 2025 budget, which shows growth in government revenues compared to 2024. An increase in duties and import taxes indicates greater economic activity.
The dependency on a single industry remains a risk for Aruba’s development and government revenues. As Minister of Economic Affairs, Minister Wever briefed the IMF on the AVP-FUTURO Cabinet’s efforts to diversify Aruba’s economy by developing sectors like commercial agriculture, the creative industry, and financial technology. Through the Aruba budget and in cooperation with the Netherlands via Landspakket, various concrete actions are underway to stimulate economic diversification.
In terms of public finances, the Minister highlighted that after five months of deliberation, the AVP-FUTURO Cabinet will present the 2026 budget on time, as required by law. This budget aims to fulfill legal requirements and provide feedback to the community.
In the 2026 budget, the AVP-FUTURO Cabinet will allocate, among other things, 50 million florins for investments and 50 million florins to improve purchasing power as part of the implementation of the Investment Fund and Purchasing Power Plan. Additionally, the 2026 budget includes an extra sum for the “Reparatietoeslag,” providing an additional 250 florins per month to all pensioners from May 1, 2025. The projected revenue for 2026 also includes a 10-cent reduction in excise taxes on gasoline and diesel, which will remain in effect for all users starting May 1.
“IMF is an international organization that continuously evaluates the development of our country. It is important to provide concrete information on the execution of sustainable economic, financial, and monetary management to strengthen Aruba’s economy and development through tangible actions,” stated Minister of Finance, Economic Affairs, and Primary Sector Geoffrey Wever.
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