Suriname is rapidly capturing the attention of the global community from impressive economic performance and an ambitious social economic policy agenda.

Growth rates of 4-5 percent for nearly a decade already have pushed Suriname in the upper middle-income country category (per capita income in 2012 of US$ 8860). Further economic growth is expected from large investments in mining, energy, transportation and housing, amongst others.

The Suriname Government is engaging with the private sector to strengthen economic growth and societal development. The overarching plan is the Government’s multi-annual development program, which was adopted in the National Assemblee in December 2011.

Focus in 2013 is on a three-pronged approach, involving further engagement with international business, the local entrepreneurial and service sector, and further improvement of Government’s own finances.
The Suriname Government has recently announced that it will issue a sovereign bond to raise financing for its equity stake in a pending joint-venture with two North-American mining companies in the exploration and exploitation of gold.

The Government is setting up the Savings and Stability Fund Suriname, the Suriname version of a sovereign wealth fund. With the establishment of the SSFS, income streams from mining will henceforth be allocated to the budget according to strict rules and the remaining bulk be transferred to the Fund for financial investments. The SSFS thus serves to stabilize government income and expenditure and to generate surplus savings from non-renewable resources for future generations.

While the SSFS provides safeguards now and in the future, the Government also aims to bring stability from refocusing its overall role. It has embarked on public sector reform and a public finance management program.

Lastly, the Government is supporting local entrepreneurship and innovation in various ways. It has recently transferred SRD 35 million to a fund for the financing of small and medium enterprises (Fonds Klein en Midden Groot Ondernemerschap) which is being administered by one of the small state banks.

Exchange RatesAugust 13th and until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,680 8,862
GBP 9,555 9,794
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,339 1,388
TTD 1,076 1,110
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,479 3,596

Gold CertificatesAugust 13th and until further notice

Coupon SRD
5 gram 4.678,07
10 gram 9.356,15
50 gram 46.780,74
100 gram 93.561,48
500 gram 467.807,42
1000 gram 935.614,83
Gold LME: USD 1.934,90 /tr.oz.

Inflation

  Average End-of-period
2012 5.0 4.3
2013 1.9 0.6
2014 3.4 3.9
2015 6.9 25.1
2016 55.5 52.4
2017 22.0  9.2 
2018 6.8# 5.4 
2019 4.4#  4.2 
     
2020 Month-to-month Year-to-year
Jan 0.7 4.2
Feb 2.5 7.0
Mar 9.9 17.6
Apr 7.8 26.0
May 4.8 31.5
Jun*) 3.3 35.2

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)

 

Exchange RatesAugust 13th until further notice

Currency Buying Selling
USD 7,396 7,520
EUR 8,680 8,862
GBP 9,555 9,794
ANG 4,112 4,228
AWG 4,112 4,228
BRL 1,339 1,388
TTD 1,076 1,110
BBD 3,667 3,760
XCD 2,712 2,783
PER 100 GYD 3,479 3,596
CNY 1,047 1,083

Gold CertificatesAugust 13th until further notice

Coupon SRD
5 gram 4.678,07
10 gram 9.356,15
50 gram 46.780,74
100 gram 93.561,48
500 gram 467.807,42
1000 gram 935.614,83
Gold LME: USD 1.934,90 /tr.oz.

Inflation

  Average End-of-period
2012 5.0 4.3
2013 1.9 0.6
2014 3.4 3.9
2015 6.9 25.1
2016 55.5 52.4
2017 22.0  9.2 
2018 6.8# 5.4 
2019 4.4#  4.2 
     
2020 Month-to-month Year-to-year
Jan 0.7 4.2
Feb 2.5 7.0
Mar 9.9 17.6
Apr 7.8 26.0
May 4.8 31.5
Jun*) 3.3 35.2

*) Preliminary figures

# 10-months inflation (Computations without data for May and June)

 

Balance sheet