(2014-06) FY2013-2014 Budget Annexes: Statement of Motives and Macroeconomic Framework
Summary — Published in Le Moniteur special issue No. 2 of 10 June 2014, this document presents the two annexes to Haiti's FY2013-2014 budget: the Statement of Motives, setting out the budget's policy orientations under the PSDH and PTI 2014-2016, and the Macroeconomic Framework, presenting the international and domestic economic context underlying the budget's assumptions. Total budget resources are set at 118.68 billion gourdes, down from the prior fiscal year mainly due to a projected drop in external grants.
Key Findings
- Total budget resources for FY2013-2014 set at 118.68 billion gourdes, down 12.86 billion from FY2012-2013.
- External grants projected to fall 25.20% (from 42.18 to 31.55 billion gourdes), driving most of the decline.
- Investment expenditures budgeted at 72.26 billion gourdes, down about 18.02% due to a contraction in donor project-financing grants (41.70 to 28.47 billion gourdes).
- Debt amortization rises 28.65% to 2.59 billion gourdes with the start of Petro Caribe loan repayments.
- Real GDP growth for FY2012-2013 estimated at 4.3%, below the initial 6.9% projection, due to weak execution of public investment.
- Triennial framework (2013-2016) targets public investment at 15% of GDP and raising fiscal pressure from 12% to 14% of GDP by 2015-2016.
Full Description
This special issue of Le Moniteur (No. 2, Tuesday 10 June 2014) reproduces the two annex documents accompanying Haiti's FY2013-2014 budget: the Expose des Motifs du Budget 2013-2014 and the Cadre Macro-economique du Budget 2013-2014. The Statement of Motives frames the budget within the triennial investment program (PTI 2014-2016) supporting the Plan Strategique de Developpement d'Haiti (PSDH), targeting 4% real GDP growth for FY2013-2014, inflation contained around 4.5-4.8% average annually, and a managed exchange rate. It sets out policy strategies covering fiscal administration reform, expanded fiscal decentralization, support to agriculture, industry and SMEs, and social investment (PSUGO school access, health coverage). Budget resources total 118.68 billion gourdes, a decline of about 12.86 billion versus FY2012-2013, driven mainly by a projected 25.20% fall in external grants (from 42.18 to 31.55 billion gourdes). Current expenditures are budgeted at 46.41 billion gourdes (up 12.86%), investment expenditures at 72.26 billion gourdes (down about 18.02% due to contracting donor-financed project grants), and debt amortization at 2.59 billion gourdes (up 28.65%, reflecting the start of Petro Caribe loan repayments). The Macroeconomic Framework annex reviews international conditions (global industrial production growth, oil and food price trends, IMF projections) and Haiti's own recent economic performance, including quarterly sectoral activity indices (industry, construction, commerce, energy), inflation data (IPC general, local, imported), and balance of payments trends, before laying out the FY2013-2014 to 2015-2016 triennial macroeconomic projections, including a public investment target of 15% of GDP and a fiscal pressure target rising from 12% to 14% of GDP.
Notes
Cover dated Mardi 10 Juin 2014 (Le Moniteur Special No. 2); the budget itself covers fiscal year Oct 2013-Sept 2014, publication/gazette date used for the title prefix. Only front annexes (Expose des motifs, Cadre macro-economique) read in full; the PDF likely continues with further budget tables not reviewed here.