Haiti - Economy : Overview of budget allocations (2016-2017)

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Haiti - Economy : Overview of budget allocations (2016-2017)
04/08/2016 10:30:13

The 2016-2017 draft budget adopted by the Council of Ministers on June 30 https://www.haitilibre.com/en/news-17894-haiti-flash-2016-2017-draft-budget-adopted-by-the-council-of-ministers.html and filed the same day in the Chamber of Deputies amounted to 121.9 billion gourdes including 73 billion for operating expenses and 45 billion for investments

It is based on the following assumptions : economic growth in real terms by 2.2% (estimated at 3.6% from 2015 to 2016], inflation of 10.5% annually and 13.5% at end of period (in June 2016 annual inflation was 15.2%) ; fiscal pressure around 13.5%, a relatively stable exchange rate and the non-recourse to monetary financing.

Overview of some budget allocations 2016-2017 :
(Allowances can be modified by both Houses of Parliament)

Economic Sector 43.18 billion Gourdes (35.4% of total budget) :
Ministry of Public Works: 18.29 billion (15.0%);
Ministry of Economy and Finance 8.33 billion (6.8%);
Ministry of Agriculture: 7 billion (5.7%);
Ministry of Planning: 6.47 billion (5.3%);
Ministry of Commerce: 1.70 billion (1.4%);
Ministry of Tourism: 772 million (0.6%);
Ministry of Environment: 608 million (0.5%).

Social Sector 29 billion gourdes (23.8% of total budget) :
Ministry of National Education: 21.22 billion (17.4%);
Ministry of Health: 5.51 billion (4.5%);
Ministry of Social Affairs: 1.50 billion (1.2%);
Ministry of Youth and Sports: 667 million (0.5%);
Ministry of Women: 163 million (0.1%).

Political (3 Powers) :
Executive power: 19,060,000,000 (15.6%)
Legislative Power: 3.91 billion (3.21%)
Judiciary: 1.06 billion (0.87%)

According to the Government, the Draft Budget 2016-17 has been designed around the following objectives :

Maintain macroeconomic stability ;
Ensure the continuation of election financing ;
Create a favorable environment for the generation of wealth and employment ;
Supporting agriculture, livestock and fisheries by maximizing their impact on the economy ;
Seek greater consistency in the use of resources from the central State administration and autonomous agencies to maximize their impact ;
Intensify efforts in the areas of public safety ;
Continue the reform of public finances ;
Promote entrepreneurship and public-private partnerships ;
Enhancing the resilience of the territory ;
Continue and strengthen the access to education policy ;
Increase vegetation cover of the country.

HL/ HaitiLibre