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Haiti - Economy : 2nd fiscal year in a row, without approved budget 03/10/2019 11:22:36
Since no draft budget law has been ratified, it is the current budget which is renewed, in this case it is the budget of 2017-2018, already renewed for the fiscal year 2018-2019 also for lack of a finance bill ratified... Economists, members of civil society and observers are unanimous in recognizing that this is a new step in underdevelopment and bad governance... The economist Enomy Germain recalls "[...] The budget 2017-2018 was about 145 billion gourdes. When it is renewed, it is the nominal value which is renewed, not the real value which is eaten by the inflation [...]" which reduces the renewed budget of the amount of the annual inflation not to mention the effects of the 30% depreciation of the Gourdes value on the purchase of certain goods and services by the Government... The economist Etzer Emile believes that with or without a ratified budget, the situation is the same explaining that in all cases "[...] budgetary choices are not at the service of growth and development [...]" For his part economist Kesner Pharel believes that the abolition of a bill of finance ratified, is the result of the dysfunction of the State and that it is a bad start for this new fiscal year which "Strengthens the uncertainty in the economy and should jeopardize the prospects for economic growth for 2020 [...]" recalling that for the past five years, Haiti has failed to reach the 2% GDP threshold needed to create jobs and reduce poverty... Note that without a new budget there is no economic planning possible or objectives adapted to the circumstances and real needs, which suggests another catastrophic economic balance... PI/ HaitiLibre
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