iciHaiti - Economy : Main directions of the 2024-2025 draft budget

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iciHaiti - Economy : Main directions of the 2024-2025 draft budget
22/03/2024 09:35:55

Michel Patrick Boisvert, the Minister of the Economy and Finance, together with Ricard Pierre, Minister of Planning and External Cooperation, recently launched work to prepare the draft budget for the 2024-2025 financial year. An approach which comes a little late due to socio-political vagaries but which will allow the authorities to respect the key deadlines of the process, namely, the adoption, promulgation and publication of the budget document before the start of the next financial year tax 2024-2025 (September 1st, 2024)

From the outset, Minister Boisvert recalled the need to continue to move forward on a certain number of initiatives such as : The establishment of the quarterly expenditure programming framework, the publication of financial information on a regular basis, the implementation of administrative measures in order to promote an increase in State revenue, better cash management involving negative monetary financing reflecting both an increase in State deposits and a reduction in claims on the State.

He renewed the Government's commitment to strengthening social programs, financing agricultural campaigns, and implementing sectoral documents in terms of public policies, in particular the National Plan for Promotion and Social Protection (PNPPS), the Integrated Recovery Plan for the Southern Peninsula (PRIPS), the State Modernization Plan (PME-2023), the Ten-Year Education and Training Plan (PDEF), the National Risk and Disaster Management Plan, with a view to improving the living conditions of the most vulnerable groups.

He took the opportunity to present the main orientations of the 2024-2025 budget which are :

Preserving budgetary balance and macroeconomic stability by resorting less and less to monetary financing;
The fight against tax evasion and fraud in order to increase the tax burden;
The stabilization of current expenditure as a percentage of GDP and the increase in the share devoted to capital expenditure.

He says he is banking heavily on the arrival of the Multinational Security Support Mission (MMSS) to combat gangs, maintaining that the country can no longer cope with the current situation.

In his speech Ricard Pierre says he is well aware of the difficult socio-security situation in the country, but intends to continue strategic programs aimed at strengthening public infrastructure and good governance. According to him, this is about strengthening the capacities of the Haitian National Police and improving government performance.

Referring to the various strategic documents on which the next 2024-2025 budget must be aligned, he underlined the implementation of the Recovery Plan for the Southern Peninsula, the purification of the Public Investment Programs and new measures aimed at restoring the State authority and regain control of territories occupied by gangs.

IH/ iciHaiti