(2016-04) Draft Budget Settlement Law and General Account of the Central State Administration, FY 2015-2016

CSCCA (Cour Supérieure des Comptes et du Contentieux Administratif) • 2016

Summary — This document presents the draft budget law and the general account of Haiti's central state administration for the 2015-2016 fiscal year. It details the macroeconomic context, including a slowdown in global growth and Haiti's GDP growth of 1.4%, below the 3.6% target. The report highlights a significant depreciation of the Gourde, high inflation, and an increase in public debt, culminating in a budget deficit of 5.12 billion Gourdes.

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Key Findings

Haiti's GDP growth in 2016 was 1.4%, below the 3.6% target, influenced by socio-political instability.
The Gourde depreciated by nearly 26% against the US dollar between September 2015 and September 2016, leading to an inflation rate of 12.5%.
Public debt increased by over 23% to $2.921 billion USD by September 30, 2016, largely due to new disbursements and treasury debt.
Total resources realized for the 2015-2016 fiscal year were 86.08 billion Gourdes, representing only 69.71% of the 123.47 billion Gourdes budgeted.
The fiscal year 2015-2016 ended with a budget deficit of 5.12 billion Gourdes, primarily due to lower-than-expected resource mobilization and reduced Petrocaribe funds.

Full Description

This report from the Haitian Ministry of Economy and Finance provides a comprehensive overview of the central state administration's financial operations for the 2015-2016 fiscal year. It begins with an analysis of the international macroeconomic environment, noting a global growth slowdown to 3.1% in 2016. Domestically, Haiti experienced a modest GDP growth of 1.4%, falling short of the government's 3.6% target, largely due to socio-political events and electoral crises. The Gourde depreciated by nearly 26% against the US dollar, pushing inflation to 12.5% by September 2016. Public debt increased by over 23% to $2.921 billion USD. The budgetary analysis reveals that total resources realized were only 69.71% of the budgeted amount. Expenditures decreased by 8.49% compared to the previous year, primarily due to austerity measures and a significant reduction in Petrocaribe funds, which heavily impacted program and project financing. The fiscal year concluded with a budget deficit of 5.12 billion Gourdes, reflecting the gap between realized resources and executed expenditures.

Topics

Geography

Time Coverage

2015-10-01 — 2016-09-30

Keywords

Budget, Public Finance, Haiti, Economy, Fiscal Year 2015-2016, Public Debt, Inflation, GDP, Government Spending, Revenue, Treasury, PSUGO, Macroeconomic Situation, Expenditures

Entities

Ministère de l'Économie et des Finances (MEF), Cour Supérieure des Comptes et du Contentieux Administratif (CSCCA), Banque de la République d'Haïti (BRH), Direction Générale des Impôts (DGI), Administration Générale des Douanes (AGD), Fonds Monétaire International (FMI), Jovenel MOISE, Jack Guy LAFONTANT, Jude Alix Patrick SALOMON, Autorité Portuaire Nationale (APN), Banque Nationale de Crédit (BNC), Les Moulins d'Haïti (LMH), OPEC, PDVSA, BANDES, Programme de Scolarisation Universelle Gratuite et Obligatoire (PSUGO)

Notes

Series: RPLR (compte général variant). PDF confirms 'EXERCICE 2015-2016', dated Mai 2017 on the interior title page. Site 'Publié le' shows 2016-04-30, which predates the interior 'Mai 2017' date — the site's stored publish date is likely a data-entry artifact; the FY itself is document-verified. Oldest RPLR-family document reached from the site's paginated listing.