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Haiti - Economy : First details on the 2012-2013 budget - 131 billion
30/06/2012 09:58:03

Haiti - Economy : First details on the 2012-2013 budget - 131 billion
Marie Carmelle Jean-Marie, the Minister of Economy and Finance (MEF), tabled this Friday, June 29, 2012, to the Chamber of Deputies, the draft budget law of the Haitian State, for the fiscal 2012-2013 [adopted by the Council of Ministers last Wednesday]. Remarkably, the administration Martelly-Lamothe is the first government for nearly 30 years, to have succeeded to respect the date of tabling of the finance law, as provided in the Constitution.

In her speech, the Minister said that the draft budget law, was in full compliance with the policy initiated by the Head of State, as stated by the Prime Minister, Laurent Lamothe in his speech of General Policy and explained, that the objectives will be reached "by limiting ourselves to maintaining macroeconomic stability, to the continuation of efforts to increase the collection of domestic revenues, to the constant search for efficiency and effectiveness of expenditure, as well as through the optimization of the allocation of resources between sectors."

In a note of the MEF, it specifies that, "the draft budget for 2012-2013 was arrested for a total amount of 131 billion gourdes (131.543 490.811 gourdes] 10 billion more, than the amended budget of the previous year [1 U.S. dollar = ± 42 gourdes]. Thanks to a tax pressure rate of 13.9% of GDP, current revenues will be $ 52 billion gourdes, exceeding for the first time for a long time the expected total donations (45.6 billion gourdes, including 4.2 billion gourdes of budget support) [...] The cancellation of Haiti's debt towards the IMF and counterpart funds will bring 7.5 billion gourdes.

The balance of funding will be increased by external debt (20.3 billion), mainly from the PetroCaribe Fund, and internally with the issuance of Treasury bonds (5.5 billion) [...]

Operating expenses of the state represent 39.3 billion gourdes, or 31% of the total against 69% for public investment, which constitutes the top priority and that will benefit from credits to the tune of 89.2 billion gourdes, the Treasury supporting directly 19.3 billion gourdes. Finally the amortization of debt amounted to 2.7 billion gourdes [...]

The main sectors benefiting from the priorities of this budget are: the economic sector (53% of total budget) with in particular of investments of around 18.2 billion for transport infrastructure, 2.3 billion for water, 4.2 billion for energy, and the social sector (25% of total budget) including investments of 12.3 billion for education and 9.5 billion for health. The territorial development will have an investment program of 12.9 billion [...]"

Excerpts from the statement of Marie Carmelle Jean Marie, Minister of Economy and Finance

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