Tuesday, Marie Carmelle Jean-Marie, the new Minister of Economy and Finance, https://www.haitilibre.com/en/news-10864-haiti-politic-return-of-marie-carmelle-jean-marie-at-the-head-of-state-finances-speech.html tabled the draft law of revised budget for the year 2013-2014 to the Chamber of Deputies. The total budget is $ 118.7 billion gourdes, down 10% compared to the previous year.

The Minister explained that "total revenues were reduced to 50.9 billion gourdes, with an anticipated increase in direct taxes (21%), but a reduction in indirect taxes (-8%). Taxes account for 67% of government revenues, whose weight increased from 40% to 43%, thus beginning the gradual regaining our independence.

Current expenditure, which accounted last year 31.5% of total expenditures are increased by 12%, now reaching 39.1%. This is explained by the increase in wages

that will be provided to teachers in particular. Operating expenses increased by 16% and transfers and subsidies by 10%, while the interest on the debt increased by 12% with the start of repayment of Petrocaribe program.

With 69.7 billion gourdes, capital expenditures will record a reduction of 21%, but this figure must nevertheless be relativized. With 1.6 billion U.S. dollars, our investment effort continues to account for over 17% of GDP [Gross Domestic Product]. Of this amount, investments financed internally represent 25%, with the greater part on the Treasury, while external financing on donations, amounted to 41% against 33% on Petrocaribe funds. 70% of investments are devoted to, economic sector, the essential being spent on infrastructure, while the political sector receives only 7.4%. Social and cultural sector sees acquire 21.5% of the funds available, nearly 15 billion gourdes."

To the members of the Lower House, Marie Carmelle Jean-Marie has clearly pointed out "it is, of course, a reasonable budget that showcases rigor in its conception," promising that this budget "will be based on budgetary discipline in its execution."

Let's hope that this budget will be quickly ratified by our parliamentarians to give the State the means of its policy.

HL/ HaitiLibre