Haiti - Economy : The Government adopts a budget of 267.5 billion (2022-2023)

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Haiti - Economy : The Government adopts a budget of 267.5 billion (2022-2023)
29/12/2022 08:54:38

On Wednesday, December 28, 2022, the Government adopted the initial budget for the 2022-2023 financial year. This is a budget with an overall envelope of 267.5 billion Gourdes (up 56 billion) compared to the previous year, of which 78% (208.68 billion) comes from domestic resources according to the Directorate General of Budget.

Domestic resources:
Current Revenues (61.3%);
IMF debt cancellation (0.5%);
Other Internal Project Financing (1.6%);
Treasury bonds (3.1%);
Financial institutions (BRH loan) (12.3%).

External Resources:
The external resources of the budget (21.1%) consist of budgetary support (3.4%) and donations & loans intended for the financing of programs and projects (17.7%). The expenditure projected in the 2022-2023 budget is divided on the one hand into current expenditure (57.9%) which includes staff expenditure (29.4%), expenditure on goods and services (18.7%), quotas and subsidies (7.6%), and debt interest (2.3%), and, on the other hand, in capital expenditure (42.1%), subdivided into program expenditure and projects (29.6%), capital expenditures (1.0%) and debt amortization expenditures (11.4%).

It should be recalled that the 2022-2023 budget is part of a Medium-Term Budgetary Framework and a Medium-Term Expenditure Framework with the following guidelines :

The implementation of the Government's social programs, in particular the National Policy for Social Protection and Promotion (PNPPS), in order to mitigate the effects of inflation on the poorest, combat food insecurity, and thus create conditions for implementing certain necessary reforms;
The implementation of the Integrated Recovery Plan for the Southern Peninsula (PRIPS) after the earthquake of August 14, 2021;
The financing of agricultural campaigns to mitigate the anticipated rise in inflation;
The fight against smuggling, terrorist financing and money laundering;
The extension of the voluntary retirement program for eligible civil servants in order not only to modernize and rejuvenate the civil service but also to contain the expenditure on salaries and wages which weigh heavily on the budget;
The endowment of the public administration with a renewed overall framework integrating the revision of the organic laws of the ministries and decentralized and autonomous bodies to improve public services and better meet the needs of the population.

HL/ HaitiLibre