Launch of the Preparation of the Draft FY2024-2025 Budget
- Preparation of the FY2024-2025 budget launched February 20, 2024, later than the usual calendar.
- Border closures with the Dominican Republic (September to November 2023) and road blockades weigh on current execution.
- Orientations: less monetary financing, measures on tax evasion, stable current spending, more capital spending.
- Minister counts on the arrival of the multinational security support mission.
On February 20, 2024, Finance Minister Michel Patrick Boisvert and Planning and External Cooperation Minister Ricard Pierre launched the preparation of the FY2024-2025 budget. The communiqué says the start is somewhat later than the budget calendar requires because of socio-political events, but should still allow adoption, promulgation and publication before the fiscal year begins.
Minister Boisvert named two factors weighing on execution of the current budget: the closure of the main border crossings with the Dominican Republic between September and November 2023, and road blockades. He listed initiatives to continue: a quarterly spending program framework, regular publication of financial information, administrative measures to raise revenue, and better cash management with negative monetary financing, meaning higher State deposits and lower claims on the State. He reaffirmed support for social programs and farming campaigns and for the sector plans PNPPS, PRIPS, PME-2023, PDEF and the national risk and disaster management plan.
The budget orientations he presented are balance and macroeconomic stability with less recourse to monetary financing, measures on tax evasion and fraud to raise the tax ratio, stable current spending as a share of GDP and a larger share for capital spending. He counted heavily on the arrival of the multinational security support mission. Minister Pierre cited the Southern Peninsula recovery plan, a clean-up of the Public Investment Program, and measures to restore State authority. Budget Director General Jean Michel Silin presented the working structure, and the ministries were asked to name their representatives to the sub-commissions.
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Ministry of Economy and Finance (MEF), Launch of the Preparation of the Draft FY2024-2025 Budget, https://mef.gouv.ht/articles/1
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- Ministère de l'Économie et des Finances (MEF)