Suriname: 2009 Article IV Consultation—Staff Report; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
IMF Staff Country Reports, February 19, 2010
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- Suriname: 2009 Article IV Consultation—Staff Report; Statement by the Staff Representative; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director
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Bibliographic details
- Published: February 19, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451835342.002
Executive summary and key findings
- Economic activity weakened in Suriname in 2009 in the context of lower alumina and oil prices and a sharp output decline in the alumina sector.
- Economic growth is estimated to have remained positive at 2.5 percent, supported by buoyant activity in the gold and construction sectors.
- Inflation has fallen sharply.
- Executive Directors welcomed the authorities’ decision to postpone the reduction in the corporate tax rate, as this would adversely affect tax collections.
Major macroeconomic developments
- Sectoral performance:
- Alumina sector: experienced a sharp output decline in 2009.
- Gold sector: buoyant activity contributed to positive growth.
- Construction sector: buoyant activity contributed to positive growth.
- External environment:
- Lower alumina and oil prices contributed to the overall weakening of economic activity in 2009.
Policy issues and recommendations noted
- Fiscal policy:
- Postponement of the reduction in the corporate tax rate was welcomed by Executive Directors because a reduction would adversely affect tax collections.
- Financial sector and public sector issues:
- Subjects covered include Bank deposits, Banking, Civil service, Commercial banks, Economic sectors, Financial institutions, Financial services, Labor, Public debt, Public sector.