Next elec­tri­ci­ty hi­ke no lon­ger ne­ces­sa­ry “The worst is over”

Times of Suriname - - ENGELS -

“We be­lie­ve that the worst is over,” Fi­nan­ce Mi­nis­ter Gill­m­o­re Hoef­draad told fo­reign re­por­ters in Hong Kong. The Fi­nan­ce mi­nis­ter went to Hong Kong to look for in­ves­tors who are wil­ling to in­vest in Su­ri­na­me. The Su­ri­na­me­se eco­no­my still is not in smooth wa­ters but Mi­nis­ter Hoef­draad poin­ted out that his pro­jec­ti­ons in­di­ca­te that the worst storm is over. The govern­ment the­re­fo­re has a rea­son to ask the In­ter­na­ti­o­nal Mo­ne­ta­ry Fund (IMF) to de­lay the next elec­tri­ci­ty hi­ke. The govern­ment is ex­pec­ted to dis­cuss the is­sue with the IMF at the be­gin­ning of No­vem­ber. Mi­nis­ter Hoef­draad does not ex­pect any ob­jec­ti­ons from the IMF re­gar­ding the is­sue be­cau­se of the fact that it was Su­ri­na­me that had sug­ge­sted the me­a­su­re in the first pla­ce. The IMF had not in­struc­ted Su­ri­na­me to rai­se the pri­ce of elec­tri­ci­ty in or­der to get the $ 478 mil­li­on lo­an. Mi­nis­ter Hoef­draad ex­plai­ned that the Su­ri­na­me­se eco­no­my and the Su­ri­na­me­se cur­r­en­cy are re­co­ve­ring fas­ter than had ini­ti­al­ly been an­ti­ci­pa­ted. The IMF had esti­ma­ted the bud­get de­fi­cit for 2016 to be 6.4% but Hoef­draad poin­ted out that this has been lo­we­red to less than 4% as a re­sult of the strict bud­ge­ta­ry me­a­su­res. The strict bud­ge­ta­ry me­a­su­res will remain in ef­fect and mo­re me­a­su­res ai­med at in­cre­a­sing the govern­ment’s in­co­me will be dis­cus­sed with the IMF. “We are in a dif­fi­cult si­tu­a­ti­on but the fu­tu­re is loo­king ro­sy,” said Mi­nis­ter Hoef­draad du­ring an interview with Bloom­berg. “We want to im­ple­ment re­forms ai­med at im­pro­ving the in­vest­ment cli­ma­te so that all pro­blems will be­co­me a thing of the past.”

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