Annual Report 2000
Summary: An oil price shock and an acute political crisis cut growth to 1.12 percent, below population growth, while the government held pump prices fixed for eleven months and inflation reached 15.32 percent.
Key Findings
- Real GDP grew 1.12 percent, against an average of 2.38 percent over the four preceding years and below natural population growth of 2.08 percent, so output per head fell.
- Inflation reached 15.32 percent year-on-year in September, driven by the depreciation of the gourde and by fuel prices.
- The government absorbed the higher oil bill by holding pump prices constant for the first eleven months of the fiscal year, at a substantial cost to Treasury revenue.
- The reference exchange rate peaked at 28.33 gourdes to the dollar on 30 September 2000.
- The central government deficit reached 819 million gourdes in the first quarter alone, before the elections were held.
- A 50 percent fall in coffee prices weighed more on the trade balance than the growth of mango and cocoa exports.
Full Description
The Bank of the Republic of Haiti's annual report for fiscal year FY2000, covering 1 October 1999 to 30 September 2000: the conduct of monetary policy and its instruments, the real sector, prices and the exchange rate, public finances and the balance of payments, the state of the banking system the BRH supervises, and the central bank's own operations and audited financial statements. An oil price shock and an acute political crisis cut growth to 1.12 percent, below population growth, while the government held pump prices fixed for eleven months and inflation reached 15.32 percent.
How to cite
Bank of the Republic of Haiti (BRH), Annual Report 2000, https://www.brh.ht/wp-content/uploads/rapentier.pdf