In a landmark vote held on May 30, Suriname’s National Assembly has given unanimous approval to an amended version of the 2024 Accounting Law, closing a period of negotiations between the executive and legislative branches that produced a key compromise on the legislation’s implementation timeline. All 38 sitting members of the assembly cast votes in favor of the adjusted bill, with no dissenting votes registered.
The core amendment to the legislation scales back the originally proposed three-year implementation delay to just two years, locking in a timeline that will see the 2024 Accounting Law enter into full force starting with the 2028 fiscal year. Finance and Planning Minister Adelien Wijnerman confirmed during parliamentary debate that the executive branch accepts the assembly’s revisions, including the shorter delay and new accountability safeguards added to the final text.
Under the terms of the amended law, a formal implementation action plan will be integrated directly into the legislation, and the parliament will receive independent progress evaluation reports every six months, with the first such assessment scheduled for December 2026. The 2019 Accounting Law will remain in effect for all government budgets and financial accountability reporting covering the period from 2022 through 2027, with the new framework taking over fully for 2028 and all subsequent fiscal cycles.
While the bill earned broad cross-factional support, multiple assembly members raised cautious questions about whether the ambitious implementation timeline is realistically achievable. Rossellie Cotino, chair of the relevant parliamentary committee and member of the NDP party, noted that independent financial experts have already labeled the two-year trajectory as extremely aggressive, warning that the legislature could be forced to consider another extension before 2028. Even with these concerns, Cotino ultimately voted to approve the amended legislation.
Asis Gajadien, parliamentary faction leader for the VHP party, shared that his caucus initially held strong reservations about any implementation delay, pointing out that limited progress on rolling out the law had been recorded over the previous 10 months. Ultimately, the faction agreed to give the government the benefit of the doubt, a decision shaped by Minister Wijnerman’s commitment to deploy all available technical expertise to meet the 2028 deadline.
Lawmakers across multiple factions emphasized that the new Accounting Law is a foundational piece of legislation for strengthening government transparency, enforcing fiscal discipline, enabling independent financial oversight, and ensuring responsible management of Suriname’s future oil and gas revenue. Members also highlighted the legislation’s critical role in shoring up the country’s Savings and Stabilization Fund and improving overall public financial governance across all branches of government.
Faction leaders from both ruling coalition and opposition parties called for unified support for the bill, stressing that successful implementation is not solely the responsibility of the executive branch. Instead, they noted, it requires coordinated action from parliament, the Court of Audit, the private sector, and other independent oversight institutions to deliver on the law’s goals.
Following the unanimous final vote, Minister Wijnerman described her reaction as one of mixed feelings, acknowledging that the government is ready to take on the significant implementation challenge ahead. She also cautioned that rolling out the new regulatory framework is a complex process, and the executive will not hesitate to return to parliament for additional consultation and new measures if unforeseen barriers emerge during execution.