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The President outlines the country's financial crisis and the problems the country is going through.

Simons addressed that there are problems that have to be dealt with, with respect to debt relief that needs to be paid back to multiple institutions and companies. Inflation also continues to be a problem for the economy.

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De Brief
July 27, 2025

Happy Monday!

This week, we cover the first week of President Simons’ presidency in the country. In her first comments, she outlined the financial crisis the country is in. While the country continues to deal with inflation and examines how to face that.

President Simons outlines the problems facing the government as she takes over and begins leading the country.

President Geerlings-Simons

  • Suriname's government is in a deep financial crisis. As such, the 2025 budget only includes fixed expenses, wages, subsidies, salaries, and debt payments, and no new policy plans.

  • The estimated deficit is around SRD 1.3 billion in 2025 only for fixed expenditures, with an additional SRD 7 billion in unpaid obligations to companies and individuals.

  • The 2025 budget is not yet approved; however, the 2024 budget limits have already been exceeded.

  • While the government earns some USD revenues, its reliability is uncertain. A financial recovery plan is being developed by experts.

  • Debt relief discussions are ongoing with the IMF and the Inter-American Development Bank, particularly as they look ahead to 2026.

  • The government is looking forward to finalise the budget of 2025 and to increasing state revenue.

  • The government aims to increase revenue through better VAT collection and more efficient operations at the Tax Office and Customs. Simons has stated that some VAT collected is not reaching the state.

President Simons also held her first cabinet meeting to assess problems and how to solve them with various ministries.

President Geerlings-Simons

  • In the first cabinet meeting held under President Jennifer Simons, the discussion focused on assessing ministry situations and identifying problems.

  • Ministers updated each other on issues and agreed to draft a government program and annual plan on how to deal with the financial distress that the government is facing.

  • Frequent cabinet meetings will continue until these plans are complete. President Simons sees her first week as successful, having tackled urgent matters and held introductory meetings.

  • She plans to establish a formal transition process for future administrations. She has also officially moved into her office at the Presidential Cabinet.

Inflation continues to cause problems in the country, as it is around 8% year on year from June 2024 to June 2025.

  • Inflation in June 2025 rose by 2.0% compared to May, and 8.0% compared to June 2024.

  • The price increases that were the most clear were Healthcare: +18.0% as medical services have gone up 40% in just one month. While food prices have gone up by around 2.0%, with big jumps in vegetables and fruits have gone up by 7.8% and fats/oils have gone up by 3.3%.

  • Housing, transport, and clothing prices have all gone up by around 1.7%–1.8% compared to prior months.

  • The CPI rose to 879.3 compared to 861.7 in May, which shows inflation pressure having gone up.

  • Prices showed extreme variation across goods and services, some rising over 400% in two years.

  • Prices in more “binnenlandse” or interior regions likely face even higher prices, but ABS data excludes key districts that are in rural areas like Brokopondo, Marowijne, and Sipaliwini.