Suriname starts stabilization fund
(de Ware Tijd) PARAMARIBO – This month, the government will establish an ‘Interim Sovereign Wealth Fund’ with a starting capital of US$ 20 million. This stabilization and savings fund is intended to make revenues from natural resources sustainable, President Desi Bouterse said in his New Year’s address yesterday. The fund will “enable Suriname to survive times of adversity”. “It will also be a good basis for economic development to the benefit of many generations after us”, the President continued, adding that the fund will be managed by the monetary authorities. The President also announced that the government will take measures this year to keep basic goods “affordable and accessible” for the people. A special policy will also be developed to control the current prices of basic necessities, and this will require careful policy planning, just like with realizing other social-economic goals. Bouterse said that progress is being made with the financing of government investments in the framework of the Development Plan 2012-2016. He referred to the upcoming direct foreign investments in gold, bauxite and oil, which will result, among other things, in a considerable growth of revenues, but also in increased employment. The government will also strive to support enterprise. Said Bouterse, “This year, we will offer effective help to all national enterprises, namely small and medium-size ones, so they will be enabled to increase our production capacity and employment”. The strong growth of agriculture, animal husbandry and fisheries and forestry offers, the President believes, possibilities to increase production and exports, employment and regional development. National enterprise in these sectors will be encouraged and supported as well, by making available credit and tax facilities. Factory halls and industrial parks will be established for agro-industry.