CFT: financial position of Saba poses a high risk

The financial position of the Public Entity Saba poses a high risk. This is what the Financial Supervision Board writes in a response to the 2020 financial statements. “The resilience was lower than the desired level in 2020 and the liquidity position needs to be improved, in particular, in order to be able to meet pension liabilities. Based on the long-term budget, it is expected that Saba will not be able to structurally improve its liquidity position on its own,” according to the Cft.

“In addition, a number of (large) investment projects were carried out in 2020 by means of special payments. However, it is still unclear how the structural costs associated with these investment projects will be financed. The public body has been in talks with BZK for a long time to structurally improve Saba’s financial position.” The Cft also sees the pension provision for political office holders as a risk.

Click HERE for the letter of the CFT to the Executive Council (in Dutch).

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