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Haiti - Economy : «Relative» recovery of economic activity (BRH Report) 09/09/2024 09:49:10
[...] The inflation rate declined in monthly variation over the quarter in question, while on an annual basis, it rose by nearly 26.7% in March 2024, the annual variation of the rate stood at 28.9% in June 2024 [30% in July https://www.haitilibre.com/en/news-43118-haiti-economy-inflation-reaches-30.html ] [...] The moderate easing of the socio-political climate allowed a partial easing of restrictions on the movement of people and goods, thus leading to an increase in commercial activities. This resulted in a better supply of markets, which was mainly driven by imported products following the reopening of the port and airport of Port-au-Prince, agricultural production in Haiti remaining sluggish. [...] In terms of public finances, the budget execution for the period from April to June 2024 reflects a better performance of tax revenues, the result of the residual effects of the tax measures taken since the previous financial year and the timid recovery of economic activities, particularly in December 2023 and in the quarter under review. [...] The outlook for the last quarter of the 2023-2024 financial year for the Haitian economy remains conditioned by internal and external hazards likely to impact the national macroeconomic environment. The continuation of the upward trend in non-reciprocal transfers, favored by the dynamism of the American economy, should have positive impacts on the exchange rate despite an expected increase in demand for US dollars in the context of a possible recovery in economic activities. The measures taken by government authorities to restore the security climate should promote renewed confidence among economic actors, which would contribute to economic recovery and lead to a reversal of the negative growth trend during the next fiscal year. In this context, the Central Bank's posture will be modulated according to the analysis of the socio-political and macroeconomic environment, so as to promote productive activities, while ensuring the stability of the internal and external value of the Gourde, and that of the financial system." Download the full note on the BRH monetary policy for the 3rd Quarter - April to June 2024 (PDF in French 15 pages) : https://www.haitilibre.com/docs/Note-sur-la-politique-monetaire-trim-3-2024.pdf HL/ HaitiLibre
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