On September 30, during her annual address to the National Assembly convened in an extraordinary public session at the Congress Hall, Suriname President Jennifer Simons outlined a comprehensive new fiscal and social policy framework that shifts the government’s strategy for increasing state revenue away from repeated tax hikes on existing citizens and businesses.
Simons emphasized that a functional, strong state requires stable public revenue, but repeatedly placing additional tax burdens on the same group of taxpayers and registered enterprises is not a sustainable solution. Instead, her administration will prioritize four core revenue-boosting measures through 2027: improving tax collection efficiency, broadening the overall tax base, cracking down on revenue leaks, and strengthening regulatory oversight. While pursuing revenue growth, the government will also maintain its commitment to protecting household purchasing power and upholding social protection programs.
The president noted that current systemic gaps—including accumulated collection backlogs, insufficient regulatory monitoring, widespread informal economic activity, and weak collection infrastructure—are draining billions in potential public revenue, and these issues will be addressed through systematic institutional reform. The government has already begun strengthening the national tax authority: since 2025, it has implemented hiring initiatives to bring on more staff with specialized expertise, and is building dedicated technical knowledge specific to the country’s critical oil and gas sector. The administration is also working to improve tracking and collection of non-tax revenue, including income from permits and regulatory fees. In 2026, six draft laws were submitted to the National Assembly to establish a unified Tax and Collection Authority, and modernization efforts will continue through 2027 with upgraded data management, full digitalization of processes, targeted compliance checks, and more robust debt collection.
Reform is also extending to the customs sector, where smuggling and illegal trade cost the state massive amounts of lost revenue and put law-abiding businesses at an unfair competitive disadvantage, Simons explained. To address this, the customs service has expanded its operational capacity, and in partnership with the Netherlands Customs Administration, local enforcement capabilities have been reinforced with the launch of a specialized detector dog unit. Further professionalization and digitalization will be rolled out to improve both border control and revenue collection.
Turning to sovereign debt financing, Simons detailed the country’s recent successful international bond issuances. In November 2025, Suriname launched two international bonds totaling $1.175 billion, with 5-year and 10-year maturities. In February 2026, the 10-year bond was reopened for an additional $265 million. Most of the proceeds from these issuances have been allocated to refinancing existing debt to make the country’s overall debt burden more manageable, including the repurchase and early repayment of outstanding obligations. Approximately $185 million from the 2026 bond reopening has been earmarked for urgent public projects, including agricultural development initiatives, repairs to healthcare infrastructure, and upgrades to education facilities. Simons stressed that all new financing decisions will align with a broader sustainable debt strategy, and the government is also working to develop the domestic capital market to reduce reliance on international borrowing over time.
On the issue of worker income and purchasing power, the president announced that a 15% salary adjustment has been implemented for civil servants, teachers, and other public sector employees effective September 2026, following a tax-free allowance issued earlier in March. However, she cautioned that higher nominal wages do not automatically translate to improved living standards, noting that a healthy macroeconomic environment and stable exchange rate remain critical to preserving household purchasing power. The government will continue ongoing negotiations with teachers to further improve their employment conditions, and has existing agreements in place to hold additional talks with civil servant representatives on further adjustments.
Simons also outlined progress on expanding social protection. In the first seven months of 2026, roughly 4.15 billion Surinamese dollars (SRD) have been allocated to social welfare programs, with across-the-board increases to core benefits: the general old-age pension has risen from SRD 2,250 to SRD 3,250 per month, assistance for people with disabilities increased from SRD 2,500 to SRD 3,500, support for low-income households went up from SRD 1,750 to SRD 2,750, and universal child benefit doubled from SRD 125 to SRD 250 per month. By the end of the year, total social spending is projected to reach SRD 4.5 billion. The government has also begun clearing roughly SRD 257 million in accumulated back payments of social benefits owed from previous years. To improve long-term sustainability of the social protection system, Simons announced that beneficiary rolls will be cleaned and updated, and all benefit payments will be fully digitalized. These changes will make social support more targeted, transparent, and fiscally manageable. The president emphasized that the government rejects the false choice between fiscal discipline and social protection, and is committed to building a fiscally sustainable social safety net that delivers support to the groups that need it most. The annual address was still ongoing at the time of reporting.