---- ----e ----f ----f ----f ----f ----f ----f ----f ----f ----f ----f Net exports of goods and services, SRDbn -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- Net exports of goods and services, of GDP -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- Net exports of goods and ser- vices, real growth y-o-y ---.- ---.- ---.- --.- --.- --.- --.- --.- -.- -.- -.- -.- e/f = BMI estimate/forecast. ...Inflation Credibility: The CBVS does not have a strong track record of maintaining price stability in Suriname, but we expect it will improve over the coming years. Suriname experienced sustained periods of high inflation during the ----s and early ----s on the back of sharp depreciation of its currency, pro- cyclical fiscal expenditure and monetary financing of the fiscal deficit, with inflation averaging ---.- y-o-y and ---.- y-o-y in ---- and ---- respectively. We expect that current consul- tations with the IMF, as a result of a USD---.-mn stand-by loan arrangement that was approved in May, will continue to improve the CBVS credibility in addressing high inflation due to reforms to monetary policy. ...The CBVS will conduct open market operations that include Treasury bill and deposit auctions to meet the reserve money target. The auctions will facilitate the development of Suriname s foreign exchange market and will -- Business Monitor International Ltd www.bmiresearch.com
...SRDbn -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- -.- Government final consumption, of GDP --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- --.- Government final consumption, real growth y-o-y -.- -.- --.- --.- -.- -.- -.- -.- -.- -.- -.- -.- e/f = BMI estimate/forecast. Source: BMI, UN sector, as well as keeping wage growth below inflation. ...GFCF will therefore fall from --.- of GDP in ---- to --.- in ----. We expect the completion of Newmont Mining s Merian gold mine, which will become operational in H--- (see Suriname: Newmont Project To Double Gold Output April -), will mark the end of major expansionary investment into the extractive sector over the coming years. Fixed investment in Suriname will largely be limited to maintenance and reinvestment into existing mining operations and infrastructure. ...The increase in domestic production will lower Suriname s import needs and will ease imports drag on economic growth in the years ahead. Despite subdued household demand, growth in imported goods and services over the next decade will consequently stem from Suriname s lack of high value added productive capacity in its non-extractive industries.
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