Haiti - Economy : The fuel subsidy will cost the State more than 30 billion (2021-2022)

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Haiti - Economy : The fuel subsidy will cost the State more than 30 billion (2021-2022)
19/10/2021 09:39:00

On Monday, October 18, 2021, Patrick Boisvert the Minister of the Economy and Finance (MEF) and Simon Dieuseul Desras the Minister of Planning and External Cooperation (MPCE) launched the work to prepare the 2021-2022 budget.

The two Ministers presented the different stages of the process leading to the finalization of the 2021-2022 budget, specifying "There will be a structure for preparing the draft budget which will be made up of a large Commission and sub-commissions whose the objective will be to define the roles and responsibilities of the main stakeholders.

This commission will be co-chaired by the two Ministers and will include the directors general of the MEF, the MPCE, the Directorate General of the Budget (DGB), the Directorate General of Taxes (DGI) and the General Administration of Customs (AGD)
https://www.haitilibre.com/docs/Intervention-du-Gouverneur-Jean-Baden-Dubois_-Mercredi-de-Reflexion-de-la-BID-en-date-du-6-octobre-2021.pdf

It should be noted that the Department of Studies and Budgetary Programming (DEPB) will play the role of central secretariat for all the work and will ensure its coordination.

The DEPB will work in collaboration with the Directorate of Analysis and Monitoring of Public Investment (DASIP) and the Directorate of Public Investment (DIP) of the Ministry of Planning

Minister Boisvert said that the inability of the Government to adjust the prices of fuel at the pump in relation to the increase in the price of a barrel of oil on the international market is the main cause of the scarcity of fuel at the pump. He recalled that during the previous fiscal year the Haitian State had lost more than 30 billion gourdes by subsidizing petroleum products, stressing "This is a problem that the whole Government is looking at. This is an untenable situation [...] With the increase in prices on the international market, he fears that the financing of subsidies will be higher than 30 billion" [2021-2022].

See also :
https://www.haitilibre.com/en/news-34357-haiti-economy-budget-deficit-of-more-than-40-billion-gourdes-in-the-3rd-quarter.html
https://www.haitilibre.com/docs/Intervention-du-Gouverneur-Jean-Baden-Dubois_-Mercredi-de-Reflexion-de-la-BID-en-date-du-6-octobre-2021.pdf

HL/ S/ HaitiLibre