Budget 2022

The 2022 draft budget of the Public Entity of Bonaire (OLB) was submitted to the Island Council on September 1, 2021, for consideration and approval.

The 2022 draft budget of the Public Entity of Bonaire (OLB) was submitted to the Island Council on September 1, 2021, for review and approval. This year, a new format for presenting the budget was adopted to more clearly highlight its connection to the policy plans outlined in the 2019–2023 Administrative Program. This places the citizens of Bonaire at the center of this budget: by presenting the budget according to the administration’s priorities, citizens gain a better understanding of what the OLB aims to achieve in the coming period—a sustainable Bonaire in a stable and promising environment.

This year also marks the debut of a “Budget at a Glance,” which provides a concise and clear overview of the Bonairean government’s revenues and expenditures.

The budget has been redesigned to make it more accessible and easier to read. The policy budget outlines the objectives for the coming year’s (and years’) policies that influence the OLB’s budget. The activities required to achieve these objectives and the associated costs are detailed in this budget.

Revenue projections are based on the assumption that the economic recovery that began in mid-2021 will continue and, according to forecasts, will gain further momentum in 2022. This positive outlook is reinforced by the introduction of the new tourist tax, which is expected to lead to an increase in revenue in 2022. The catch-up in the issuance of building permits and additional land sales will further contribute to a solid revenue side of this budget.

In addition to the priorities agreed upon in the Administrative Program and the Administrative Agreement, the OLB will focus in 2022 and the coming years on intensifying policies aimed at economic recovery and improving services to citizens. This is reflected in the budgeted expenditures and investments. The priorities in this regard are:

Effective with this 2022 budget, the OLB is estimating its revenues and expenditures more realistically, with the goal of preventing underspending in the financial statements as much as possible. Given the proposed policy initiatives and priorities to be implemented, significant investments will be required in certain areas. In preparing this budget, operational (office) costs were reduced wherever possible. Nevertheless, the budget shows an expected deficit of USD 1.97 million, which will be covered on a one-time basis from the general reserve accumulated over the years. As of the end of 2020, the general reserve amounted to USD 36.6 million, making it justifiable to cover the expected deficit from this reserve on a one-time basis in 2022 without compromising the OLB’s financial position.

The policy section of the budget is available for review on the Public Entity of Bonaire’s website. We invite all citizens to take a look at the 2022 budget.