Monetary developments
In August 2026, money supply expanded by Afl. 123.7 million to Afl. 7,644.6 million, compared to July 2026, resulting from a surge in domestic assets (+Afl. 134.1 million) and a decline in net foreign assets (-Afl. 10.4 million).
The development in the domestic component of the money supply was caused by a surge in domestic credit (+Afl. 143.9 million) and a contraction in non-credit-related balance sheet items (-Afl. 9.8 million). The growth in domestic credit resulted from higher claims of the banking sector on the private sector (+Afl. 105.6 million) as well as higher net claims of the banking sector on the public sector (+Afl. 38.3 million). The rise in claims of the banking sector on the private sector resulted from more loans to enterprises (+Afl. 82.1 million), housing mortgages (+Afl. 14.8 million), and consumer credit (+Afl. 8.6 million). The increase in net claims of the banking sector on the public sector was due to a decline in government deposits (-Afl. 38.2 million).
Inflation
The consumer price index (CPI) for August 2026 noted a 2.7% rise year-over-year (YOY), compared to a 2.2% increase (YOY) for July 2026. The main contributor to this increase was the “Transport” component. The 12-month average inflation rate was 1.0% in August 2026, compared to 0.7% in July 2026.
Government Revenue
Total government revenue amounted to Afl. 133.5 million in August 2026, Afl. 33.9 million less than the same month of the previous year. The decrease in government revenue resulted from a decline in nontax revenue (-Afl. 51.1 million) and an increase in tax revenue (+Afl. 17.2 million).
The growth in tax revenue was mainly driven by increases in income from foreign exchange tax (+Afl. 10.5 million), wage tax (+Afl. 3.2 million), and turnover tax (B.B.O./B.A.V.P.) (+Afl. 2.7 million).
Tourism
The number of stay-over visitors amounted to 145,750 in August 2026, which was 13,022 visitors (+9.8%) more than in August 2025. The Latin American market, the North American market, and the European market increased by 10,506 visitors (+47.8%), 1,565 visitors (+1.6%), and 1,209 visitors (+16.6%), respectively.
The complete monthly report is available on the website of the CBA www.cbaruba.org
Centrale Bank van Aruba
2 October 2026
About the Centrale Bank van Aruba
The main purpose of the Centrale Bank van Aruba (CBA) is to contribute to the financial stability and economic well-being of the Aruban community. The CBA accomplishes this mission by implementing an effective monetary policy aimed towards maintaining the value of the florin, by promoting the soundness and integrity of the financial system, and by enhancing an efficient and reliable payments system.
Besides these core tasks, the CBA is also the sole issuer of florin banknotes and florin coins, and acts as banker to the government. In addition, it regulates the flow of international payments, manages the available foreign exchange reserves of Aruba, and supervises the spending thereof.
For more information on the Centrale Bank van Aruba, please visit the website www.cbaruba.org
