Tuesday, 13 November 2012

Long-lasting Euro crisis harmful to Surinamese economy

In a reaction to Germany's Chancellor Angela Merkel's statement that the current Eurozone economic crisis will continue for five more years, the tax lawyer, Robby Makka, has said that if it does so, it will harm the Surinamese economy. He expects that a prolonged crisis will lead to a decline in tourism, fewer investors and a decrease in money repatriated from the Netherlands to relatives in Suriname.
Makka hopes that the new Dutch government, sworn in by the Queen on Monday 5 November, would give a more positive perspective about the economy. Unfortunately, on the day after Prime Minister Mark Rutte's second government took office, it immediately became clear that prolonged cutbacks and a decline in purchasing power are being considered in the Netherlands.
Many Surinamese relatives in Holland transfer foreign currency every month to their family in Suriname, or ship boxes with relief supplies back home. However, unlike the shrinking or stagnating European economies, Suriname's resource-based economy is growing; there is a growing tendency among expatriate Surinamese to re-emigrate to their motherland to try their luck there.
For more news and expert analysis about Suriname, please see Suriname Politics & Security.

© 2012 Menas Associates

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