December 23, 2024
On Monday, August 12, 2024, the Haitian Council of Ministers approved a revised budget for the 2023-2024 fiscal year, setting the new total at 254.82 billion gourdes. This revision marks a 20.5% reduction from the initial budget of 320.65 billion gourdes, a decision driven by the need to realign priorities in response to a contracting economy.
This budgetary adjustment comes in the context of a particularly challenging economic environment, where the government must balance the urgent needs of the population with the necessity of maintaining macroeconomic stability. In a bid to avoid inflationary pressures, no monetary financing measures have been included—a move praised by economists as a prudent approach in the face of the crisis.
Among the priorities of the new budget, the government places particular emphasis on strengthening security, creating jobs, and promoting good governance. Special attention is also given to social protection, with initiatives such as unconditional cash transfers for more than 25,000 vulnerable households and financial support for 35,000 workers in the subcontracting sector.
The government’s Multisectoral Emergency Program also includes actions to reduce food insecurity, notably through the distribution of solidarity baskets and the supply of community restaurants. These initiatives are partially funded by the International Monetary Fund’s (IMF) Food Shock Window (FSW) program, which supports the government’s efforts to mitigate the effects of the current economic crisis.