The government expects a budget deficit of SRD 10.8 billion for 2027. Total government revenues are estimated at SRD 70.1 billion, against SRD 80.9 billion in expenditure. President Jennifer Simons presented these figures on Wednesday, September 30, during her annual address in De Nationale Assemblée (Suriname’s parliament), where she submitted the draft budgets for the coming fiscal year.
The estimated deficit is equivalent to 4 percent of gross domestic product (GDP), according to the president. The government wants to make necessary investments while at the same time controlling the deficit and safeguarding macroeconomic stability.
“The policy choices I have explained today must, of course, fit within what our country can financially bear,” Simons stated.
Of total expenditure, around SRD 25.4 billion is earmarked for operational expenditure and SRD 55.6 billion for the implementation of programmes, according to the annual address. These rounded partial amounts add up to SRD 81 billion; the address gives SRD 80.9 billion as the total.
More revenue and better expenditure control
The government wants to increase state revenues in 2027, including from gold, timber, fisheries and economic activities related to local content. In addition, improved tax collection, targeted checks and digitalisation must reduce revenue leakage.
According to Simons, the solution cannot always be to tax the same citizens and companies more heavily. The emphasis must therefore be on better compliance with tax rules, broadening the tax base and stronger collection.
The government also wants to exercise tighter control over expenditure. Revenues, expenditure, cash flows and debts must be better aligned before new financial obligations are undertaken. This should prevent new payment arrears.
According to the president, her government found approximately SRD 7 billion in payment arrears upon taking office. Their gradual reduction will continue. The annual address does not state how much of these arrears has since been cleared.
Debt burden remains high
Fiscal space is also constrained by government debt. According to the annual address, this stood at SRD 177.8 billion in August 2026, equal to 100.4 percent of GDP. Simons wants the debt ratio to decline further from 2027, towards the statutory debt ceiling of 60 percent of GDP.
To this end, the government is focusing on budget discipline, economic growth, higher state revenues and responsible debt management. Where possible, productive investments must be realised through financing arrangements other than direct loans. The government also wants to attract private investment for development projects.
Financial foundation before oil revenues
Simons stressed that the expected major oil revenues are not yet available in the state treasury. Financial management must therefore be put in order before those revenues arrive. The annual address identifies 2027 as a preparatory year for the new economic phase.
In addition to controlling the deficit, the government wants to deploy resources for healthcare, education, infrastructure, social protection, production and employment. The president stated that government expenditure must deliver demonstrable results for society.
The presented amounts are budget estimates. The draft budgets for 2027 still have to be considered by De Nationale Assemblée.
