Haiti - Economy: For the moment, the Government will continue to subsidize fuel

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Haiti - Economy: For the moment, the Government will continue to subsidize fuel
17/07/2014 12:20:41

While 4 billion gourdes of increase in tax revenues from petroleum products is provided in the 2014-2015 budget and that the subsidy was responsible for 6.9 billion Gourdes deficit during the 2012-2013 fiscal year https://www.haitilibre.com/en/news-11491-haiti-economy-towards-an-upward-revision-in-fuel-prices.html the Government, in the socio-economic and political context, decided despite of everything to continue to subsidize petroleum products in Haiti in order to avoid negative impacts on the most vulnerable segments of the population.

Lucien Jura, Spokesman of the Presidency stressed that this decision will have a significant impact on the economy "We are in a phase of discussions and analysis of projections [...] in order to achieve the best formula [...] before arriving at a decision to increase, we must be sure that there is not another option," recalling that President Martelly, since the beginning of its mandate, had always taken measures to improve the conditions of the most disadvantaged populations.

Michel Pierre Brunache, Spokesman of the Prime Minister indicated that the Commission continued to study the impacts that could have an increase of petroleum product prices on households.

For its part, the economist Eddie Labossière also considers inappropriate the increase in fuel prices in the current context, however, said he recognized the need for Haitian government to stop subsidizing petroleum products.

See also :
https://www.haitilibre.com/en/news-11491-haiti-economy-towards-an-upward-revision-in-fuel-prices.html
https://www.haitilibre.com/en/news-11510-haiti-politic-the-senator-moise-denounces-future-increases-in-fuel-prices.html

SL/ HaitiLibre