(2015-09) Decree revising the FY2014-2015 rectified budget
Summary — Published in Le Moniteur (Special No. 3, 22 September 2015), this presidential decree revises Haiti's FY2014-2015 rectified budget, reallocating credits across ministries following a Council of Ministers resolution on Petrocaribe fund reallocations. It resets total resources and expenditures at Gdes 108,105,799,004, down 1% from the March 2015 rectified budget.
Key Findings
- Total FY2014-2015 rectified budget envelope reduced to Gdes 108,105,799,004, down 1% (Gdes 1,631,047,510) from the March 2015 rectified figure of Gdes 109,736,846,514.
- Domestic tax revenue estimated at Gdes 58,443,785,899, a 4% (Gdes 2,416,321,102) drop from the March 2015 estimate.
- Budget-support and project grants set at Gdes 31,859,895,428; external and domestic financing at Gdes 17,802,117,677.
- Base budgetary balance (solde budgetaire de base) revised to a surplus of Gdes 7,313,945,519, down 31% from March 2015.
- Public debt service fixed at Gdes 6,076,629,756 (Gdes 899,996,123 interest plus Gdes 5,176,633,633 amortization), split Gdes 3,387,404,252 domestic and Gdes 2,689,225,504 external.
- Reallocations driven by Council of Ministers resolutions of 29 May 2015 and 22 July 2015 authorizing deallocations and additional draws on Petrocaribe funds to finance new priorities and cover overruns at certain entities.
Full Description
This decree, signed by President Michel Joseph Martelly on 17 September 2015 and countersigned by Prime Minister Evans Paul and the cabinet, amends the FY2014-2015 rectified budget adopted in March 2015. It responds to two Council of Ministers resolutions (No. 1 of 29 May 2015 and No. 5 of 22 July 2015) authorizing deallocations and reallocations, including additional drawdowns on Petrocaribe funds, to finance new government priorities and to anticipate spending overruns at certain administrative entities. Article 1 resets domestic tax revenue at Gdes 58,443,785,899, budget-support and project grants at Gdes 31,859,895,428, and domestic/external financing at Gdes 17,802,117,677. Article 2 fixes operating credits at Gdes 56,955,604,633 and program/investment credits at Gdes 51,150,194,372. The revised financial balance table (Article 3) shows total resources of Gdes 108,105,799,004 (down 1% from the March 2015 figure of Gdes 109,736,846,514), total expenditures of Gdes 102,929,165,371, a base budget surplus of Gdes 7,313,945,519, and an overall balance including grants of a deficit of Gdes 12,625,484,044 financed mainly through external borrowing (Gdes 11,091,314,536 in drawdowns) and domestic financing (Gdes 3,562,049,384).
Detailed annexes (Articles 4-12) break down credits by administrative entity and expenditure title, covering the Executive (Ministry of Economy and Finance, Justice, Education, Public Health, Interior, Foreign Affairs, Agriculture, Public Works, and others), the Legislature (Senate, Chamber of Deputies), the Judiciary, and independent bodies (Superior Court of Audit, Electoral Council, State University of Haiti, Academy of Haitian Creole). It also restates the public debt service schedule (interest Gdes 899,996,123 plus amortization Gdes 5,176,633,633, for a total of Gdes 6,076,629,756) split between domestic and external debt. The tables show, for each entity, the credit as of March 2015, amounts deallocated (desaffectation), amounts reallocated (reaffectation), and the resulting September 2015 credit.
Notes
Cover date is the Le Moniteur publication date (22 September 2015); the decree itself is dated/signed 17 September 2015 at the National Palace. Numbers transcribed exactly from the source tables (French thousand-space, comma-decimal convention converted to plain digits, no decimals present in source).