The government wants to reduce the estimated budget deficit of SRD 10.8 billion for 2027 by better controlling public expenditure and collecting more revenue. Minister Adelien Wijnerman of Finance and Planning says the starting point is not to immediately take out new loans to cover the deficit.
Wijnerman explained the financial policy on Tuesday, October 6, in the programme Jaarrede Toegelicht of the Communicatie Dienst Suriname. She addressed the financial chapter of President Jennifer Simons’ annual address.
For 2027, government revenue is estimated at SRD 70.1 billion and expenditure at SRD 80.9 billion. The expected deficit therefore amounts to SRD 10.8 billion, or 4 per cent of gross domestic product (GDP).
According to Wijnerman, the government must always consider what resources are available when making expenditures. “We will have to control our expenditure as well as possible. That means that we continuously coordinate: what resources do we have, before we implement a budget, before we make expenditures,” the minister said.
In controlling expenditure, account must be taken of the government’s priorities and of other expenditures that may arise during the year. In addition, the ministry, together with the Belastingdienst (Tax Administration) and customs, wants to improve oversight and collection.
“There is a lot of tax revenue to collect. But here and there, we have some inefficiency,” Wijnerman said. According to her, additional efforts should generate more revenue and thus help reduce the deficit.
The government also wants to prevent new payment arrears from arising. According to the minister, these would place additional pressure on public finances.
Borrowing for investments
Wijnerman stressed that any loans should be aimed at investments, for example in the production sector, the social sector and infrastructure.
“But not borrowing for consumption. That is not what we have in mind,” the minister said.
If financing remains necessary, the government first wants to examine which projects and programmes have not yet received financing and which other financing sources are available for them. According to Wijnerman, the remaining state expenditure must be paid from tax revenue and non-tax revenue.
