PARAMARIBO — With estimated government expenditure of 80.9 billion Surinamese dollars and total expected revenues of SRD 70.1 billion, the government estimates to have a budget deficit of SRD 10.8 billion in the 2027 service year. This is evident from the draft budget that President Jennifer Geerlings-Simons submitted on Wednesday (today) during the extraordinary public meeting of the National Assembly. Before that, the head of state gave the annual speech in which she presented the intentions of her cabinet.
During her speech in the Congress Hall, Geerlings-Simons emphasized that the government must make sharp choices in the coming service year. According to her, the economy is still fragile, but investments in health care, education, infrastructure and employment, among other things, should help society move forward. The President further pointed out that macroeconomic stability and a stable exchange rate must be maintained.
Of the total expenditure, SRD 55.6 billion is intended for policy programs and SRD 25.4 billion for operational costs. Within the current expenditure of SRD 63.9 billion, subsidies and contributions are the largest item at SRD 22.9 billion. This is followed by personnel expenditure (SRD 21.3 billion). According to the head of state, personnel costs have increased significantly as a result of the recent 15 percent pay increase granted to civil servants, teachers and security services, which took effect this month. The government has reserved SRD 6.8 billion for investments.
On the revenue side, the Annual Financial Plan, which has also been submitted, has raised SRD 64 billion in current revenues, the majority of which – SRD 46.8 billion – must come from taxes. The other receipts amount to SRD 17.2 billion.
According to Geerlings-Simons, the financial policy for 2027 mainly focuses on reducing debt and strengthening tax authorities so that they can collect more, and preparing the Surinamese economy for the coming offshore oil and gas developments.
