PARAMARIBO, Suriname, Sept 30, CMC – President Jennifer Geerlings-Simons Wednesday said that while the government is seeking to increase revenue, this policy is not always achieved given that the taxes are directed at practically the same businesses and citizens.
Delivering her Annual Address to the National Assembly, President Geerlings-Simons said that by next year, the emphasis should shift more towards better tax collection, broadening the tax base, reducing leakages, and strengthening controls.
She said that at the same time , the government will continue to safeguard purchasing power and social protection.
“A strong state needs sufficient revenue. But the solution cannot always be to tax the same citizens and businesses ever more heavily,” the head of state said, acknowledging that the government has already begun strengthening the Tax and Customs Administration.
She said measures have been taken since 2025 to attract more employees with the necessary expertise and that specific knowledge for the oil and gas sector is also being built within the service.
Geerlings-Simons told legislators that six bills have been submitted to the National Assembly in 2026 for the establishment of a Tax and Collection Authority and next year, the modernisation efforts would continue with better data, digitalization, targeted checks, and stronger enforcement.
She said the Customs Department will also be further strengthened, noting that smuggling and illegal trade cost a significant loss in revenue as well as disadvantaging businesses that abide by the rules.
President Geerlings-Simons said that in cooperation with Dutch Customs, local investigative capacity has been strengthened with a special dog unit and that further professionalism and digitalization should improve control and collection.
President Geerlings-Simons said that in November 6, 2025, two international bonds were issued with a combined value of US$1.175 billion and maturing in five and 10 years. She said a reopening of the 10-year bond for US$265 million followed in February this year.
According to the head of state, the funds from these operations were primarily used for refinancing and making existing debt more manageable.
She noted that existing obligations were repurchased or repaid early.
President Geerlings-Simons said that approximately US$185 million from the reopening of the 10-year bond is earmarked for urgent projects, making particular reference to projects in agriculture and the restoration of facilities in healthcare and education.
She said that the new financing decisions must fit within a broader debt strategy an that work is continuing with regards to the development of the local capital market.
In her address, President Geerlings-Simons said that public servants had also benefitted from a 15 per has been granted to civil servants, teachers, and government employees as of September 2026.
A tax-free allowance had already been granted in March. However, the President warned that a higher income alone does not automatically lead to better living conditions and for that to happen the macroeconomic situation must also remain healthy and the exchange rate stable.
She said that the government continues to hold discussions with teachers about further improving their position and that agreements have been reached with civil servants regarding further negotiations.
According to official figures released here, an estimated SRD 4.15 billion (One SRD=US$0.02 cents) has been spent on social services in the first seven months of this year.
The General Old Age Provision (AOV) has been increased from SRD 2,250 to SRD 3,250 per month. Financial assistance for people with disabilities has increased from SRD 2,500 to SRD 3,500, and support for socially vulnerable households fhas moved from SRD 1,750 to SRD 2,750.
The government said that the General Child Allowance was increased from SRD 125 to SRD 250 per month.
Geerlings-Simons told legislators payment of approximately SRD 257 million in outstanding social entitlements from previous years began this year and that beneficiary files are being cleaned up and updated.
“We are therefore not choosing between financial discipline and social protection,” she said, adding that the government aims to make social protection financially sustainable and better targeted.
Meanwhile, the main opposition Progressive Reform Party (VHP) has reversed its decision to boycott Wednesday’s parliamentary sitting with its parliamentary leader, Asiskumar Gajadien, saying that their attendance is “out of respect for the Constitution, the institution of the President, and our constitutional responsibility as representatives of the people.
“However, our presence is expressly in protest against the decision-making procedure followed and must in no way be interpreted as agreement with this course of action or as acceptance of the precedent created hereby,” Gajadien added.
The VHP had earlier sent a letter to Speaker Ashwin Adhin lodging a “serious objection” regarding the manner in which the decision-making process concerning the organisation of the Annual Address took place.
“We request that you formally record this protest in the parliamentary records and ensure that future decisions within the National Assembly are taken in advance, in a democratic and regulatory manner. After all, the credibility of our democratic institution is determined not only by the decisions it makes, but equally by the manner in which these decisions are reached.”
CMC/jl/ir/2026