Haiti - Economy : Growth Rate insufficient (2011-2012)

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Haiti - Economy : Growth Rate insufficient (2011-2012)
07/12/2012 10:02:02

Following a mission of the the International Monetary Fund (IMF) in Haiti, on the macroeconomic situation of the country from 28 November to 6 December, Mr. Boileau Loko, Head of the IMF mission for Haiti, accompanied by Mrs. Marie Carmelle Jean-Marie Minister of Economy and Finance and Mr. Charles Castel, Governor General of the Bank of the Republic of Haiti, declared Thursday during a during a joint press conference, that after an emergency assistance of about $ 270 million [just after the earthquake of January 2010] "[...] The monetary fund has established with the Government of Haiti, a 3-year program, which ended in 2013, whose ultimate objective [...] is to see put in place the conditions that allow to create resources, create jobs and reduce poverty.

The year 2011-2012 was a bit below expectations. The growth rate of GDP (Gross Domestic Product) would be currently to 2-3% for the fiscal year ending end September 2012, this is below our initial projections, this is also below the growth rate that should realize Haiti to be in the next 20-30 years an emerging country.

The growth rate of the population is about 2%, so if we have a GDP growth rate of around 2 to 3%, there is not enough business creation, not enough growth to be able, in a sustainable way, create jobs and help poverty.

Why the rate was low ? I would say that there are 2 or 3 reasons, one of the reasons that do not depend neither the authorities nor the people are the major natural events, but it is only one reason, there are reasons on which we can act, and one of these reasons [...] is to get to implement all the projects that we can implement, arrive at accelerate the reconstruction and its actions, these expenditures, should enable us, at least in the short term, to restart the machine and allow civil society, the private sector, to take over.

[...] For the year beginning October 1, 2012, we will make efforts on the factors on which we can act to ensure that we can achieve a growth rate, between 6 and 7%. The first factor, would be to ensure that there is an acceleration of the reconstruction. But there are other factors, Haiti must reduce its dependence on foreign aid, it is not necessarily what Haiti would like, but is that developed countries have now also economic difficulties and can not continue to provide financial assistance as they did in the past.

It is imperative that we get to increase domestic revenues generated by the customs administrations and taxes and this requires, first, to strengthen the customs administrations and of tax and secondly, generate economic activity. t also requires that we try to increase and strengthen the infrastructure in the country and social spending [...]"

See also :
https://www.haitilibre.com/en/news-6838-haiti-economy-growth-rate-estimated-at-6-in-2012.html

TB/ HaitiLibre