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Haiti - Economy : Announcement of unpopular measures in the coming days
08/05/2018 08:51:55

Haiti - Economy : Announcement of unpopular measures in the coming days
In order to respect its commitments made in the "Staff-monitored program" agreement with the International Monetary Fund (IMF) signed in late February https://www.haitilibre.com/en/news-24021-haiti-economy-towards-further-increases-in-fuel-prices.html which includes important requirements, including the complete elimination of subsidies for petroleum products and electricity, the Government of Haiti is preparing to take measures that may be very unpopular in the coming days.

Jude Alix Patrick Salomon, Minister of Economy and Finance confirms that by the end of June, fuel prices at the pump will be revised upwards, the Government will apply the mechanism of automatic adjustment of price at the pump https://www.haitilibre.com/en/news-20974-haiti-flash-fuel-a-lack-of-precision-in-the-agreement-with-serious-consequences.html (not implemented since May 2017) and to eliminate all fuel subsidies.

In addition, the Government is considering a drastic increase in the billing rate to reduce the recurrent shortfall of EDH which exceeds $ 200 million each year, a sum which the State fills by digging its own deficit.

Finally, the Government intends to replace the Turnover Tax with a Value Added Tax (VAT).

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