RSSFinally an Aruban Newspaper Discussing the Possible pending Halt to the Economy
Finally a newspaper in Aruba is discussing the cold, hard, inevitable facts of what a decline in tourism means. A decline in tax revenue, increase in import tax and a government that is still spending at the status quo means trouble.
I think we predicted this as well when we began to see the bottom continually fall out of the tourism market. Rather remarkable that AM Digital is actually stating that there are various factors that could cause the Aruban economy to halt.
What is the cause and effect of a declining economy, loss of tax revenue and no change in government spending? Aruba will find out. Less tax revenues result in a need to cut programs or risk an out of control debt. No wonder Aruba had been budgeting less for tourism.
(AM Digital:Â click on article to enlarge)
Posted July 28, 2006 by Scared Monkeys Aruba, boycott, Business, Economy, Media, Natalee Holloway | one comment |
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[...] Economy will come to an end if government does not reduce spending [...]