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Haiti - Economy : The country threatened by hyperinflation is in depression
18/11/2022 09:30:49

Haiti - Economy : The country threatened by hyperinflation is in depression
Thursday, November 17, the respected Haitian economist Eddy Labossière, President of the Haitian Association of Economists (AHE) warned that the increase in fuel prices decided last September by the Government https://www.haitilibre.com/en/news-37648-haiti-flash-the-new-fuel-prices-are-in-effect-anger-is-growing.html , coming into force this week, could lead Haiti into a situation of hyperinflation.

According to Labossière, current inflation estimated at 30.5% in July 2022 barre-des-30.html (latest statistics available) is very far from the reality of the prices of goods and services, which, like the prices of petroleum products, have doubled or even tripled..."

For Enomy Germain, Advisor in Charge of Economic Actions and Investments of the Youth Government of Haiti, Haiti has experienced negative growth over the past three years, explaining "The Gross Domestic Product has been in contraction since 2018. This means that we are not facing a temporary situation, but rather a relatively long one, which means that the economy is no longer experiencing a recession, but rather an economic depression..."

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