![]() ![]() ![]() By 2020, a severe fiscal and balance of payments crisis began to unfold in Suriname, which continued into 2021. Government revenue from mining fell sharply, foreign reserves were drained, and GDP growth contracted. On the UN’s Human Development Index, Suriname ranked 97 out of 189 countries in 2020 at 0.738, which puts the country in the high human development category.īeginning in 2015, Suriname’s economy contracted, and the budget and balance of payments came under severe distress. This made the country one of the fastest-growing economies in the LAC region with per capita income rising to nearly US$9,350 and a decline in poverty rates. Strong economic growth, averaging 4.4%, was recorded from 2001 to 2014, mainly due to favorable commodity prices. This makes Suriname extremely vulnerable to external shocks. The economy is driven by its abundant natural resources, with mining accounting for nearly half of public sector revenue and gold representing more than 80 percent of total exports. Suriname is a small, natural-resource rich, upper-middle income country in South America with a population of approximately 586,634. ![]()
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