Synthesis note, state of public finances as of 31 January 2025

The note summarizes the state of public finances at January 31, 2025, from the table of State financial operations (TOFE) for the first four months of fiscal 2024-2025. The overall balance on a commitment basis was a surplus of HTG 16.3 billion, compared with 18.2 billion a year earlier: spending rose 7 percent (HTG 8.2 billion) and current revenue rose a more moderate 2 percent (HTG 1.4 billion).

Tax and customs administrations collected about HTG 66.6 billion, 74 percent of the HTG 90 billion first-half target in the staff-monitored program agreed with the IMF. Domestic revenue rose 3 percent, from HTG 41.4 billion to 42.8 billion, 64.2 percent of the total; customs revenue was HTG 23.8 billion, 35.7 percent. Excise duties rose 106 percent, mainly on petroleum taxation.

Spending was 75 percent of revenue collected, compared with 72 percent a year earlier. Current spending was 97 percent of the total. Wages and salaries were 57 percent of current spending, at HTG 27.6 billion, up 6 percent, and a December 2024 decision to raise support to police officers lifted pay-related spending. Investment spending rose 18 percent compared with 6 percent for current spending. Social spending at four ministries (education, health, social affairs and labor, agriculture) was about HTG 14.2 billion, 71.6 percent of the HTG 19.9 billion first-half objective; education alone accounted for HTG 10.2 billion.