H.E. President Chandrikapersad Santokhi of Suriname, on September 29th has presented the National Budget 2021 to Parliament. It was the maiden budget of his administration, which took office last July after the May 2020 General Elections.
In his Budget Statement the President outlined the dire state of the economy his administration has inherited and the measures the Government has proposed to tackle the problems we are facing.
“The road ahead looks extremely bumpy, but history has proved that we are a resilient people. And I am here today to convince you that together we will bring this task to a good end.”
The president explained that his administration will have a multi-focus approach comprising:
- Bringing the downturn in the economy to a halt and putting it back on a trajectory of recovery and sustainable growth;
- Restoring healthy public finances;
- Poverty reduction and assistance to vulnerable groups who are badly impacted by the fallout of the Covid-19 pandemic and
- Measures to strengthen institutions which facilitate good governance and the rule of law.
We have brought the Key Takeaways from the Budget 2021 together in attached brochure.
In the meantime it has become clear that Budget 2021, as it was presented to Parliament last September, will need to be substantially amended as a result of the Staff Level Agreement reached with the IMF for a USD 690 MIO Extended Fund Facility to support Suriname’s efforts to curb its current economic problems.