📈 Oil, aviation, and agriculture

Happy Monday!

This week we cover the IMF’s economic outlook, President Simons’s UN address and SLM’s expansion plans. We also examine Braganza’s agricultural investments and the response to bird flu.

IMF Forecasts Strong Growth as Offshore Oil Production Approaches

• Suriname’s economy could grow by approximately 30% in 2028, when offshore oil production is expected to begin.

• Before production starts, the IMF projects overall economic growth of around 4% in 2026 and 2027, with growth outside natural-resource sectors estimated at 4.7% in 2026.

• These forecasts come from the IMF’s assessment of Suriname’s economy, rather than its broader Annual Report 2026.

• The IMF says oil revenues could improve living standards, provided Suriname strengthens public financial management, invests in infrastructure and maintains economic stability.

• Legislation governing public finances and the Savings and Stabilisation Fund has improved, but implementation remains incomplete because of limited institutional capacity and delays in supporting regulations.

• The IMF recommends multiyear budgeting and cost-benefit assessments for major investments. It warns that expected oil wealth does not remove the need for disciplined government finances before production begins.

Simons Calls for Diversification, Forest Protection and International Cooperation

• Speaking at the United Nations, President Jennifer Simons said oil and gas revenues should finance a broader, more resilient economy. Temporary resource wealth must translate into lasting national prosperity.

• Suriname is preparing for gas-to-shore development while retaining renewable energy in its energy mix. Simons also called for responsible adoption of artificial intelligence, balancing opportunities with risks.

• She warned that large-scale agricultural expansion presents an additional threat to forests already under pressure from mining. The government is introducing legal and institutional safeguards for forests and Indigenous and Tribal communities.

• Highlighting Suriname’s carbon-negative status and forest coverage exceeding 90%, Simons urged fairer access to climate financing. Countries preserving forests should not have to experience deforestation before qualifying for support.

• She called for stronger respect for international law and a more representative UN Security Council, including permanent African representation and greater attention to smaller, vulnerable states.

• Simons advocated dialogue to end the embargo on Cuba and continued international support for restoring security, constitutional order and democratic government in Haiti.

• Ahead of Suriname’s CARICOM chairmanship in 2027, she identified food and energy security, climate resilience, transport connections and the movement of skilled workers, goods and services as regional priorities.

• She also reiterated calls for reparatory justice for slavery and colonialism, referring to CARICOM’s ten-point plan for addressing their lasting consequences.

SLM Plans Fleet Expansion, New Routes and Greater Reliability

• Surinam Airways wants to expand its fleet and strengthen Suriname’s position as a regional aviation hub supporting tourism and onward travel.

• The airline plans to restore its Curaçao connection and is considering Barranquilla, Sint Maarten and Jamaica as additional destinations.

• SLM already cooperates with WinAir, LIAT Air and InterCaribbean Airways and is discussing partnerships with larger airlines.

• Eastern Airlines was announced as SLM’s partner on the Amsterdam route for two years, with the transition scheduled for September 27.

• A Boeing 777-200 in SLM colours is planned for December 2026 as part of the changes to its long-haul operation.

• Director Johan Sandie said additional backup capacity and stronger operational arrangements should help reduce cancellations and disruptions. Safety remains the priority, with aircraft grounded whenever unresolved technical concerns prevent departure.

• SLM intends to restore app notifications to communicate flight changes more quickly, acknowledging that passengers do not always read email updates.

• The broader recovery and expansion programme still requires approval and financing. Reliability, customer service, digitalisation and stronger partnerships remain central to the airline’s plans.

Braganza Outlines Agricultural Investments Exceeding US$20 Million

• Braganza Marketing Group and its Mennonite partners expect investment in their three agricultural projects to exceed US$20 million.

• Director Lionel Blokland said a substantial portion had already been invested and that financing was sufficiently secured. However, individual contributions and the financing structure were not disclosed.

• The Mennonite partners participate through Agriculture The Crown N.V., Agriculture New Start N.V. and New Mexico Agriculture N.V. Braganza describes them as business partners rather than employees.

• Blokland said financing conditions had changed since the older business plan, which identified uncertainties involving investment, cash flow and funding for successive project phases.

• The company expects approximately five years to bring all three projects into full operation.

• At full development, Braganza forecasts annual production worth approximately US$78 million and tax payments of US$13 million. These remain company projections whose assumptions have not been fully disclosed.

• Implementation still depends on tree-felling permits, environmental approvals and procedures concerning Mennonite participants’ entry and residence. These requirements also affect the proposed development timetable.

Bird Flu Prompts Stronger Controls Across the Poultry Sector

• Avian influenza was confirmed at one poultry business. Further overseas testing was planned to identify the strain and establish whether it is highly pathogenic.

• The Agriculture Ministry and the poultry association agreed to strengthen farm biosecurity and communication. Farmers were urged to report illness, unusual behaviour or increased bird deaths immediately.

• The response involves several organisations, including the Health Ministry, the National Coordination Centre for Disaster Management, the Bureau of Public Health and the Pan American Health Organization.

• Health officials advised strict protective measures when handling potentially infected birds, including personal protective equipment and good hand hygiene.

• The Agriculture Ministry is assessing affected farmers’ losses and possible assistance. It acknowledged the financial and emotional impact of culling, but support details had not been announced.

• Despite the outbreak, the ministry remains committed to expanding domestic poultry production. Approximately 35% of local chicken demand is currently supplied domestically, with roughly 65% imported.

• Authorities said consumers had no reason to panic about eating chicken, provided the meat is thoroughly cooked, while emphasizing the need for prompt reporting and preventive measures on farms.