Suriname's president promises oil revenues to the country's citizens when the country expects to earn billions from offshore oil discoveries.
According to experts, Suriname – a country with 600,000 inhabitants – will earn approximately 10 billion dollars, equivalent to approximately 110 billion kronor, over the next 10 to 20 years.
In October, the French oil giant Total Energies announced a 10.5 billion dollar project to exploit an oil field off Suriname's coast with a capacity to produce 220,000 barrels per day. Production is scheduled to begin in 2028.
On Monday, President Chan Santokhi promised that oil revenues will be paid out "so that all Surinamese can benefit from and earn on oil and gas". Each citizen will receive an amount of 750 dollars in their savings account, with an annual interest rate of seven percent, the president announced in a speech on National Day.
Almost one in five Surinamese live in poverty today, according to World Bank figures.
