Table of State financial operations (TOFE), fiscal year 2018-2019
Summary: The State's fiscal operations table (TOFE): revenues, expenditures, and financing for the period — in-year budget execution reporting.
Key Findings
- Records a year of contraction on both sides: revenue down 4 percent to 76,364 million gourdes and expenditure down 13 percent to 76,895 million, which brought the commitment-basis deficit down 94 percent to 532 million.
- Shows the adjustment came from investment, cut 70 percent to 3,461 million gourdes with projects down 75 percent to 2,645 million, while the payroll rose 7 percent to 40,280 million.
- Records subsidies and current transfers cut 41 percent to 6,766 million gourdes, the reversal of the previous year's 55 percent increase.
- Shows revenue weakening across most lines: provincial internal revenue down 42 percent to 2,976 million gourdes, customs down 11 percent to 20,098 million, income tax down 7 percent to 19,069 million and excise down 20 percent, with only the turnover tax holding at 22,277 million.
- Records interest payments up 73 percent to 3,366 million gourdes, with internal interest up 167 percent and interest on public securities up 566 percent to 1,130 million, which is the cost of the previous year's borrowing arriving.
- Shows grants at zero and net external financing at minus 7,016 million gourdes, entirely loan amortization, so the year was financed domestically.
- Records public security issues of 23,676 million gourdes, up 295 percent, against net internal financing of 9,227 million, so gross issuance was nearly three times the net figure.
- Carries an unexplained line of 2,201 million gourdes in other taxes to be reclassified, absent the previous year, which should be checked before the revenue series is used.
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), Table of State financial operations (TOFE), fiscal year 2018-2019, https://budget.gouv.ht/storage/app/uploads/public/5f7/b37/169/5f7b37169fe64572054692.pdf