Budget Execution Report as of March 31, 2026 (mid-year, FY 2025-2026)

The report analyzes execution of the 2025-2026 budget at March 31, 2026, the midpoint of the fiscal year, from the MEF's execution report and its TEREDA annex. It sets the international context (an IMF global growth forecast of 3.1 percent for 2026, cut by 0.2 point after the war in the Middle East that began February 28, 2026 and the energy shock), then assesses the MEF report's legal compliance, resources, spending and the budget balance, and ends with recommendations.

Resources mobilized were HTG 132.33 billion compared with forecasts of HTG 345.51 billion, 38.30 percent, leaving 213.18 billion to raise. Domestic revenue was HTG 111.00 billion, 83.88 percent of resources, with customs (44.59 percent) and internal revenue (39.29 percent) providing almost 84 percent of it. Only 13.43 percent of forecast grants arrived: no budget support compared with a forecast of HTG 2.72 billion, and HTG 8.65 billion of project aid compared with HTG 61.73 billion, with grants HTG 9.76 billion below the same period a year earlier. Of HTG 12.68 billion of financing, HTG 12.67 billion was net Treasury bill issuance, up 199.46 percent year on year.

Spending was HTG 120.93 billion, 35.00 percent of forecasts, up 19.20 percent year on year compared with 9.30 percent for resources. Current spending was 72.95 percent of the total and executed at 41.31 percent, compared with 24.79 percent for capital spending. Personnel spending was HTG 52.67 billion (up 18.23 percent) and goods and services HTG 28.40 billion (up 30.57 percent). The result is a surplus of HTG 11.41 billion.