PARAMARIBO, SURINAME – Addressing the Association of Economists in Suriname (VES) at a recent New Year’s event in Paramaribo, President Jennifer Geerlings-Simons called for disciplined economic management and long-term planning as future oil and gas revenues come into view.
“Oil and gas revenues should not be treated as income to be spent, but as a tool to build economic stability, manageable debt, and a stronger post-oil future for Suriname,” she said.
Simons highlighted local content policy as a key mechanism to ensure that economic growth benefits the broader economy. She stressed that Surinamese companies and knowledge institutions must be given opportunities to participate in the oil and gas value chain, while maintaining efficiency and cost discipline.
“Local content is not about protectionism but about giving Surinamese companies and institutions a fair opportunity to grow alongside the oil and gas sector, without sacrificing efficiency,” the President stated.
She added that future revenues should be directed toward strengthening institutions, investing in knowledge and skills development, and supporting sustainable production models, noting that these investments are essential for resilience beyond the oil and gas phase.
“The real value of oil and gas lies not in the barrels produced, but in whether they leave Suriname stronger once the oil is gone,” Simons said.
The president also pointed to diversification as a priority, indicating that oil revenues should be used to support the development of other economic sectors and reduce long-term vulnerability.
“We have a unique window of opportunity: to use today’s oil revenues to build institutions, knowledge, and industries that will sustain Suriname long after the oil and gas phase,” she noted.
Suriname is currently preparing for its first major offshore oil development, with policymakers and industry stakeholders increasingly focused on fiscal discipline, local participation, and long-term economic planning.
