Surinam: Panorama econòmic

Economic Indicators

Suriname is a small, natural-resource-rich, upper-middle-income country in South America whose economy is driven by its abundant natural resources, with mining accounting for nearly half of public sector revenue and gold representing more than three-quarters of total exports, making the country extremely vulnerable to external shocks. Growth in Suriname rose to an estimated 2.8% in 2024, up from 2.5% in 2023, driven mainly by services and industry, while agriculture lagged due to ongoing drought. Inflation slowed sharply to 10.1% in December 2024, down from 32.6% a year earlier. Recent offshore oil discoveries have boosted medium-term prospects, with a final investment decision announced in October 2024 and production set to begin in 2028. Real GDP growth is projected to reach 3.1% in 2025, supported by private investment ahead of oil production, with stronger, investment-led growth expected thereafter (World Bank data).

Suriname's fiscal policy is focused on restoring debt sustainability while enhancing the quality of public spending and safeguarding vulnerable individuals through improved social assistance. After defaulting in late 2020 amid currency depreciation and economic decline, Suriname reached a debt rescheduling deal with the Paris Club in June 2022, suspending payments until 2028 and setting terms for other creditors. Bilateral deals were concluded with all Paris Club members and India, while a rescheduling agreement with China—covering Exim Bank and ICBC—was signed in November 2024, with repayments starting the same month. Talks with bondholders representing 96% of private debt yielded an agreement in principle featuring a 25% haircut and a 4.95% interest rate until 2026, rising to 7.95% thereafter. Arrears with other creditors, including domestic ones, have been cleared. Agreements include clawback clauses tied to future oil revenues. The IMF has supported Suriname with USD 690 million (2022–2025) under an Extended Credit Facility linked to fiscal and structural reforms. According to the World Bank, Suriname’s primary surplus fell to an estimated 0.3% of GDP in 2024, below the 2.5% target set under the IMF programme. This shortfall was driven by weak non-tax revenues, continued electricity subsidies, a growing wage bill, and temporary cash transfers to cushion vulnerable groups from rising energy prices. The fiscal deficit is expected to narrow, supported by a broader VAT base, new fuel taxes, and higher non-tax revenues from lease rates and fees. Subsidy spending is projected to decline with adjustments to electricity and gas prices. Fiscal consolidation is set to create room for increased social spending and infrastructure investment, while the debt-to-GDP ratio (at 69.7% in 2024) is expected to continue falling as growth picks up and the exchange rate strengthens. Inflation slowed to 10.1% by December 2024, down from 32.6% a year earlier, and is expected to continue declining through 2027, supported by tight monetary and fiscal policies.

The unemployment rate stood at 7.3% in 2024, down from 7.6% one year earlier. About 17.5% of Suriname’s population lived below the upper middle-income poverty line of USD 6.85 (2017 PPP) per day in 2022, with 46.5% experiencing multidimensional poverty. Both monetary and multidimensional poverty are significantly higher in the country’s interior. Thanks to economic growth and lower inflation, poverty is expected to decline by up to one percentage point year-on-year in 2025 (World Bank data). Inequality, quantified by the Gini coefficient, stood at approximately 39.2, consistent with levels observed in other countries within the region. The country also faces problems with access to water and sanitation services. Housing is another big challenge, with a significant number of people living in illegal dwellings on land they do not own. Unskilled labour, underdeveloped infrastructure, and restricted access to credit further hinder Suriname's population. Lastly, the IMF estimated the country’s GDP per capita (PPP) at USD 21,504 in 2024.

Source: World Bank - Latest available data.

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Latest Update: October 2025