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Haiti - Economy : We will have to tighten our belts warns the PM
30/11/2021 09:41:35

Haiti - Economy : We will have to tighten our belts warns the PM
In his inauguration speech for members of the new government, despite the already very difficult situation for the populations and economic actors, Prime Minister ai Ariel Henry recalled that the State coffers were empty, that the deficit was on the rise and that his Government was operating on credit and warned that it would be necessary to "tighten the belt".

Recall that for the fiscal year 2020 - 2021 out of the 256 billion Gourdes of budget forecast, only 96 billion Gourdes were collected and of this amount 30 billion were used to subsidize fuel. Note that for each gallon of gasoline purchased at the pump at 201 gourdes, the State makes a deficit of 259 gourdes (subsidy), for each gallon of diesel purchased at 169 Gourdes, the State loses 210 Gourdes and for each Gallon of kerosene bought 163 Gourdes the State loses 195 Gourdes.

For the Prime Minister if this situation continues "we will not even be able to order fuel".

Henry announces severe measures soon, convinced that the recovery of the economy inevitably requires a rise in taxes and the end of subsidies on petroleum products if we want to avoid a deficit for the 2021-2022 fiscal year between 60 and 90 billion Gourdes as predicted by several economists.

However, the "propitious" moment of the effective announcement of the end of subsidies on petroleum products, which inevitably implies an increase in fuels at the pump and the methods of application, does not seem to have been stopped yet, the Government would hesitate between next December and the beginning of 2022, keeping in mind the violent riots of July 2018 https://www.haitilibre.com/en/news-24897-haiti-flash-3rd-day-of-riots-in-haiti.html

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