Analytical summary of the Table of State financial operations (TOFE), position at 31 January 2022
Summary: The State's fiscal operations table (TOFE): revenues, expenditures, and financing for the period — in-year budget execution reporting.
Key Findings
- Reads an 8 percent revenue rise against two falling components, excise duties down 30 percent and provincial internal revenue down 15 percent, so the headline conceals a narrowing base.
- Projects revenue of 108.4 billion gourdes at 30 September 2022 if the trend holds, a gap of 7.8 billion against the forecast in the draft framing letter.
- Records total budget expenditure down 24 percent, but interest payments up 22 percent, driven mainly by a marked rise in external debt interest even though internal debt still accounts for 75 percent of total interest paid.
- States plainly that the year's expected economic growth will not be supported by public investment unless the trend reverses, with investment spending down 73 percent from 4.9 billion gourdes in 2020-2021 to 1.3 billion in 2021-2022.
- Records BRH financing down 30 percent, from 26.4 billion gourdes in the previous exercise to 18.4 billion.
- Puts net treasury bond issuance at 4.9 billion gourdes against 5.7 billion a year earlier.
- Shows the composition shift in the four-month cumulative figures: internal revenue up from 24,847 to 28,176 million gourdes while customs fell from 8,710 to 7,906 million, and on the spending side subsidies collapsed from 6,431 to 1,355 million and amortization from 10,224 to 5,661 million.
Full Description
The State's fiscal operations table (TOFE): revenues, expenditures, and financing for the period — in-year budget execution reporting.
How to cite
Ministry of Economy and Finance (MEF), Analytical summary of the Table of State financial operations (TOFE), position at 31 January 2022, https://budget.gouv.ht/storage/app/uploads/public/620/f5d/7d6/620f5d7d6d565763380222.pdf