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Haiti - Economy : «The situation is serious» dixit Minister Bastien
05/04/2016 11:40:56
The economic situation in Haiti is "serious", reiterated Yves Romain Bastien,the new Minister of Economy, stressing that the social and political instability that has passed through Haiti are important factors that have not fostered the growth and left Haiti in a state of emergency.
"We are in a serious situation. Inflation was 14.4%, and we do not produce." End of 2015, the national currency ended with a depreciation of 22% against the dollar "Today is our job to make a better decision and end this crisis we are experiencing."
At the same time, he stressed that there were few controls on expenditure in the budget and with a 1.2% growth rate and high inflation, and this made it difficult to grow the economy.
Adding, "moreover, external financing [budget support from bilateral and multilateral agencies, resources from the Petrocaribe agreement] is very low lately, due to lack of confidence and instability in the country [and oil prices]," promising to take steps to create an environment that allows the recovery of the Haitian economy...
However, remember that in his installation speech the Minister stated "Most of these problems are structural, their definitive correction can not be done in the short term of the government. However, the Ministry intends to create conditions and take, in consultation with the sectors concerned, all deemed relevant measures, likely to return to a more favorable macroeconomic framework. Efforts will also be made to reverse the deterioration of the living conditions of the population and ensure the availability of resources to finance basic services improved for the population." He then outlined several measures which include :
- The rationalization of public expenditure with emphasis on strictly essential operating expenses of the administration to avoid waste ;
- A budget execution close to equilibrium and moderate monetary financing of budget deficit ;
- The grant, within sustainable limits of grants to EDH ;
- The search for greater efficiency and improved efficiency of public enterprises of nature commercial and industrial and service ;
- The maximization of tax and customs revenues by reinforce the perception bodies ;
- The continuation and strengthening of the fight against smuggling and corruption ;
- A harmonization of monetary and fiscal policies including through a "cash management" program to lower inflation and contain the depreciation of the gourde in order to preserve the purchasing power of the population and reduce uncertainty for investors ;
- Ensuring consistency of economic policies on the development of competitive sectors and the reduction of regional disparities, for a convergence towards economic growthand continued creation of sustainable jobs which will eventually induce a growing of the middle class and reduce the rural exodus ;
- An accompaniment of the productive sectors of the economy to enhance competitiveness ;
- A rationalization of social security spending with a preference for those focused on the final exit of the beneficiaries of the cycle of dependency (eg support to micro-enterprises) ;
- The continuation and strengthening of economic and financial reforms.
HL/ S/HaitiLibre
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