Suriname

Despite the cooling of international commodity prices in the second half of 2008, the Suriname economy maintained 5.2% growth in 2008, down only slightly from the rate of 5.3% achieved in 2007. Growth was led by construction, mining, and wholesale and retail commerce, restaurants and hotels. An overall fiscal surplus of approximately 2.1% of GDP was recorded, compared with 5.7% in 2007. The Central Bank maintained its Suriname dollar (S$) cash reserve requirement at 25%, and both deposit and lending rates remained stable, ending the year at 6.3% and 12.0% respectively. Domestic credit expanded by 20%, and the December-December inflation rate stood at 9.4% (8.3% in 2007), although by April 2009 this indicator had dwindled to 0.8%. Once again, the balance-of-payments current account exhibited a surplus (equivalent to 14.5% of GDP). The government continues to focus its fiscal policy on promoting growth, while its monetary policy targets inflation. In 2009, GDP is expected to grow by 2.5%.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions