Economic Recovery in Haiti: Performance, Issues and Prospects
- Haiti experienced a profound economic setback in FY88 due to political events and suspension of external aid.
- Economic growth in FY86-87 averaged slightly under 1% per year.
- The public sector deficit averaged 6% of GDP in FY86-87, compared to 9% in FY80-85.
- The reforms initiated in 1986 still needed refinements, and many deep-seated problems of longer-term development remained to be tackled.
The report reviews economic developments in Haiti during fiscal years 1986-88 (FY86-88), focusing on the adjustment and recovery program initiated in early 1986 following a major political change. An impressive array of economic policy reforms and improved economic performance in FY86-87 were followed in FY88 by a profound economic setback, including suspension of vital external aid due to recent political events. Taking into account the depressed domestic economic situation and external aid environment, the report recommends a program of short- to medium-term policy and expenditure priorities aimed at averting further economic backslide. This program would provide a viable base for a full-fledged recovery program once domestic confidence increases and aid prospects improve.
How to cite
World Bank, 1988, Economic Recovery in Haiti: Performance, Issues and Prospects, accessed via HaitiDocs, https://www.haitidocs.org/doc/wb-1988-economic-recovery