During the public debate on the Second Budget Amendment for 2025, Member of Parliament Xiomara Maduro raised serious concerns about how Minister of Finance Geoffrey Wever is managing public investment funds, warning Parliament to remain vigilant against what she described as “Geoffreynomics.”
According to MP Maduro, although AWG 79 million was allocated for public investment in 2025, only AWG 15 million has actually been spent so far. The remaining funds, which could have been used to improve the wellbeing of the population, would normally have to be redirected toward debt repayment. However, Maduro accused the Minister of using accounting maneuvers to “park” the unused funds in order to avoid paying down debt.
Underutilized Investment Budget
Maduro explained that the government originally budgeted AWG 71 million for investments in 2025, but by the third quarter only AWG 15 million had been committed. This, she said, is due to long-standing issues with government capacity to prepare and execute investment-ready projects.
Despite this, the Minister allocated an additional AWG 8 million for investment, bringing the total to AWG 79 million, even though the Advisory Council (Raad van Advies) expressed concerns about this move.
Investment Fund Not Yet in Place
Minister Wever has stated that he intends to place the unused funds into a special investment fund, allowing the money to be used once the necessary legal framework is established. However, the law required to create this fund is not yet finalized.
As a result, under current financial supervision rules set by CAFT, the AWG 64 million in unspent investment funds should be used to reduce Aruba’s public debt. CAFT supports this approach, but according to Maduro, Minister Wever is unhappy with this requirement and is attempting to bypass it.
‘Dotation to the Balance Sheet’
In his response to the Advisory Council, Minister Wever indicated that if the investment fund cannot be established in 2025, he plans to temporarily hold the funds via a “dotation to the balance sheet” of the country. This would allow the money to be carried over and used in 2026 once the investment fund is legally in place.
Maduro criticized this approach, stating that such financial techniques are unusual in Aruba’s public finance system and do not reflect sound financial governance. She compared the strategy to earlier financial practices used by the AVP in past administrations, which she claims ultimately harmed public finances.
Call for Parliamentary Oversight
For these reasons, MP Maduro warned that Parliament must remain alert and carefully scrutinize how public investment funds are handled, to ensure that financial maneuvers do not negatively impact the people of Aruba.
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