(2024-12) Analytical summary of the state of public finances (2nd version)

MEF - Ministère de l'Économie et des Finances • 2024

Summary — This report provides an analytical summary of Haiti's public finance situation for the first month of the 2024-2025 fiscal year (October 2024). It highlights a 7% decrease in current revenue and total expenditures year-on-year, primarily due to reduced internal and customs revenues. Despite challenges, income tax collection saw a significant increase, and total expenditures were well-controlled.

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Key Findings

Current revenues decreased by 7% year-on-year, from 14.6 billion to 13.7 billion gourdes in October 2024.
Income tax (ISR) collections significantly increased by 158%, reaching 3.3 billion gourdes despite strikes.
Total expenditures also decreased by 7% year-on-year, with no investment spending recorded in October 2024.
Subsidies and current transfers saw a substantial 65% reduction.
Total expenditures were well-controlled, representing 56% of collected revenues, an improvement from 46% the previous year.

Full Description

This analytical summary details the public finance situation in Haiti for October 2024, marking the first month of the 2024-2025 fiscal year. Current revenues decreased by 7% year-on-year, from 14.6 billion gourdes in October 2023 to 13.7 billion gourdes in October 2024, driven by a 7% drop in internal revenues and a more pronounced 15% decline in customs revenues. However, income tax (ISR) collections surged by 158%, reaching 3.3 billion gourdes despite strikes at the tax authority. Provincial revenues, particularly from Cap-Haïtien, also increased, reflecting regional economic shifts influenced by insecurity in the Port-au-Prince metropolitan area. Total expenditures also fell by 7% year-on-year, mainly due to a reduction in current expenditures and the absence of investment spending in October 2024. Subsidies and transfers saw a substantial 65% decrease. Overall, total expenditures were well-controlled, representing 56% of collected revenues, an improvement from 46% the previous year. The report also notes a net monetary financing of +6.3 billion gourdes from the BRH and a low execution rate of 16% for Treasury bond emissions.

Topics

Geography

Time Coverage

2023-10-01 — 2024-09-30

Keywords

Finances publiques, Haïti, exercice fiscal, recettes courantes, dépenses totales, impôt sur le revenu, recettes douanières, subventions, transferts, Banque de la République d'Haïti, bons du Trésor, économie, budget, octobre 2024, Cap-Haïtien, Port-au-Prince, insécurité

Entities

Direction Générale des Impôts (DGI), Direction des Grands Contribuables (DGC), Electricité d'Haïti (EDH), Banque de la République d'Haïti (BRH)

Notes

MEF /documentation/doc_rapport page, published 2 Dec 2024; title truncated. Companion to -2024a (different publication date / possibly different period or draft). De-dupe against -2024a on open; keep whichever is the definitive FY2023-2024 outturn summary.