$ 75 million loan to close 2017

The government reportedly plans on borrowing $ 75 million via international brokers before the end of this year. Opposition leader Chandrikapersad Santokhi (VHP) on Monday notified parliament of the government’s plans. The government reportedly did not deny the reports. ³We keep on opting for loans when necessary. We have a budget deficit and need money to finance the budget,” said Finance Minister Gillmore Hoefdraad. The government also plans on boosting its income next year with SRD 350 million by raising the ground rent, the costs for putting land in other people’s name and the costs generated by the sale of real estate. Although the leader of the NDP faction in parliament, Andre Misiekaba, was not aware of these measures, he made it clear that he would give the government the benefit of the doubt. He pointed out that he is looking forward to the reasons for these measures and how the sale of state property would take place. ³We are cautiously op- timistic,” said MP Misiekaba. Minister Hoefdraad will reportedly discuss the details at a later phase. MP Santokhi (VHP) expressed concern about the $ 75 million loan which reportedly has to be paid back in 18 months. Minister Hoefdraad pointed out that the legislator’s concerns are misplaced ³because the loan can be paid back on time with the additional income that will be hauled in.” The minister also pointed out that ³we have to close the year 2017 in a healthy manner.