[{"bbox": [97, 154, 1163, 206], "category": "Text", "text": "Another emphasis is on the promotion of circular and regenerative agriculture which will contribute to create a low carbon economy, with new opportunities and green jobs for women and youths."}, {"bbox": [97, 218, 1163, 324], "category": "Text", "text": "To ensure the policy's credibility and to allow results-based decision making, Sint Eustatius is in the process of establishing an integrated monitoring framework for the NEPP 2020-2030, which will also cover the agricultural sector reform. The framework will allow the sequential tracking of inputs, and the progress toward the achievement of output and outcome targets, which are to contribute to long-term NEPP strategic goals."}, {"bbox": [97, 339, 1163, 418], "category": "Text", "text": "**In conclusion, the policy is sufficiently relevant and credible for budget support objectives to be achieved. Therefore, the policy can be supported by the Commission with the proposed sector reform budget support modality.**"}, {"bbox": [86, 444, 375, 470], "category": "Section-header", "text": "### 2.3.2 Macroeconomic Policy"}, {"bbox": [97, 484, 1133, 670], "category": "Text", "text": "The economy of Sint Eustatius depends heavily on the oil terminal, owned and operated by the private company Prostar's GTI. The terminal is the largest private sector employer on the island and a driver of the economy of Sint Eustatius (private consumption, business travel, contracts for local construction firms and other services suppliers etc.). If operations at the terminal were to end, this would have a big negative impact on the local economy. The latest value of Sint Eustatius gross domestic product (GDP) published by the Dutch Central Bureau for Statistics was for 2018 at USD 128 million (approx. EUR 110 million). The GDP per capita was USD 39 500 in 2018 (approx. EUR 33 950).¹⁰"}, {"bbox": [97, 682, 1133, 868], "category": "Text", "text": "In 2020, the size of the working-age population (15 to 74 years) in Sint Eustatius was slightly over 2000 people. Women's wages were 26% lower than men's wages. In jobs earning less than USD 20 000 (approx. EUR 17 724), women occupied a share of 39% in total employment. In 2019, the median disposable household income in Sint Eustatius stood at USD 31 800 (approx. EUR 28 000). The labour participation rate in 2020 was 73.4% and the unemployment rate was just over 3.2%. The median annual wage of employees in Sint Eustatius was USD 36 400 (approx. EUR 32 000) in 2019, 9% more than in 2018. Sint Eustatius had a Gini coefficient of 0.43 in 2019, slightly higher than for Bonaire and Saba, as well as the one of the European Netherlands which is 0.27.¹¹"}, {"bbox": [97, 880, 1133, 1089], "category": "Text", "text": "Sint Eustatius receives around 90% of its annual budget directly from the central Dutch government. Like Dutch municipalities, public entities can only levy a limited number of taxes stipulated in the law, of which land tax and tourist tax generate the principal returns (10% to 15% of total revenue). The rest of its budget comes through an annual structural allowance, also called free allowance from the Dutch Ministry of the Interior and Kingdom Affairs and special-purpose grants from different line ministries. The free allowance amounted USD 11.5 million in 2022 (approx. EUR 10.1 million) and will be increased in 2023. In addition, further support will come through ad hoc allowances, namely EUR 1 million earmarked to help eliminating backlogs and EUR 600.000 to strengthen the administration."}, {"bbox": [97, 1104, 1133, 1236], "category": "Text", "text": "As of March 2020, a package of emergency measures has been in place in the Caribbean Netherlands to tackle the economic consequences of the coronavirus crisis. In Sint Eustatius, 47% of businesses availed of a financial contribution towards their wage costs and/or fixed charges, with a total of USD 2.7 million (approx. EUR 2.46 million) being paid out for wage costs and USD 0.7 million (approx. EUR 0.64 million) for fixed charges. Of all contributions, 19% were intended for the accommodation and food services sector.¹²"}, {"bbox": [97, 1251, 1133, 1302], "category": "Text", "text": "**In conclusion, the authorities are pursuing a stability-oriented macroeconomic policy and the eligibility criterion is met.**"}, {"bbox": [86, 1330, 436, 1356], "category": "Section-header", "text": "### 2.3.3 Public Financial Management"}, {"bbox": [97, 1370, 1133, 1476], "category": "Text", "text": "Sint Eustatius' Public Financial Management falls within the framework outlined in the Financial Law for the Public Entities, as well as in the General Law on the Public Entities and the Special Administrative Regulation. Since 10 October 2010, the relations between the European Netherlands and Sint Eustatius are coordinated through the Dutch Ministry of Interior and Kingdom Relations."}, {"bbox": [97, 1489, 1133, 1542], "category": "Text", "text": "Sint Eustatius' income and expenditure is controlled by a supervisory board, the Colleges Financieel Toezicht (CFT) for Dutch Overseas Countries and Territories. Funds from the income account are placed on a clearing"}, {"bbox": [86, 1572, 1015, 1598], "category": "Footnote", "text": "¹⁰ Trends in the Caribbean Netherlands 2021 – Statistics Netherlands/Centraal Bureau voor de Statistiek (CBS)"}, {"bbox": [86, 1598, 151, 1619], "category": "Footnote", "text": "¹¹ *Ibid.*"}, {"bbox": [86, 1620, 151, 1642], "category": "Footnote", "text": "¹² *Ibid.*"}, {"bbox": [1038, 1657, 1144, 1681], "category": "Page-footer", "text": "Page 9 of 24"}]