(2015-03) Amended Finance Law (Supplementary Budget Law), FY 2014-2015
Summary — This special issue of Le Moniteur presents the rectifying budget for the 2014-2015 fiscal year in Haiti. It details adjustments to public resources and expenditures, driven by factors such as falling oil prices and new government priorities. The document outlines fiscal and customs measures, including new taxes and revised duties, and emphasizes strategies for economic growth and employment.
Key Findings
- The overall budget envelope for 2014-2015 decreased by 11% due to reduced PetroCaribe resources and new government priorities.
- Current expenditures were revised down by 2%, and capital expenditures by 20%, reflecting a need for fiscal consolidation.
- New fiscal and customs measures were introduced, including a circulation tax for foreign commercial vehicles and an environmental protection tax on certain imported goods.
- The budget emphasizes promoting economic growth and employment through the 'Pact for Employment and Inclusive Economic Growth' (PECEI).
- Key sectors targeted for development include PMEs, strategic economic factors (finance, business environment, land security, transport, electrification, vocational training), and border zone management.
Full Description
This official decree from the Republic of Haiti, published in Le Moniteur, outlines the rectifying budget for the 2014-2015 fiscal year. The revision addresses internal and external factors impacting initial budget objectives, notably a significant drop in international oil prices affecting PetroCaribe resources, slower project execution, and the integration of new government priorities. It also considers the need to finance elections and strengthen public security. The document introduces new fiscal and customs measures, including a 'Circulation Tax' for foreign commercial vehicles, an 'Environmental Protection Tax' on certain imported goods, and revised excise duties on alcohol and customs duties on various products. The overall budget envelope is reduced by 11%, with current expenditures cut by 2% and capital expenditures by 20%, reflecting a focus on fiscal consolidation and a 'Pact for Employment and Inclusive Economic Growth' (PECEI) to stimulate job creation and sustainable development.
Notes
Series: Loi de Finances rectificative (mid-year amended budget act), annual. Site 'Publié le' date: 27 mars 2015.