Suriname: Strengthening the Fiscal Framework Ahead of the Anticipated Oil Boom

This technical assistance report was prepared in response to Suriname’s request for support in strengthening its fiscal framework ahead of the anticipated offshore oil production starting in 2028. The report finds that while Suriname has made significant legal advances by adopting a robust Public Financial Management (PFM) Law in 2024 and revamping the Savings and Stabilization Fund Suriname (SSFS), operationalization of these frameworks remains incomplete due to institutional capacity constraints, delayed secondary legislation, and limited political engagement. The report emphasizes the urgent need to finalize implementing decrees, establish governance bodies, and build macro-fiscal analytical capacity to ensure fiscal discipline and sustainability. Key recommendations focus on accelerating the operationalization of fiscal rules and the SSFS, enhancing the medium-term fiscal framework (MTFF) and medium-term expenditure framework (MTEF), and strengthening the Budget Strategy Paper (BSP) to serve as a credible policy anchor.