Thursday at the National Palace, the Draft law of Finance of Haiti for the 2016-2017 fiscal year was approved by the Council of Ministers and submitted to Parliament for analysis, changes and ratification on the same day (deadline envisaged by the Constitution) by Yves Romain Bastien, the Minister of Economy and Finance.

In broad outline provided by the Government, pending the budget amount and its distribution, the proposed 2016-3027 budget is based on the following assumptions: Economic growth in real terms of 2.2% (estimated at 3.6% 2015-2016]; inflation of 10.5% annually and 13.5% at end of period (in June 2016 annual inflation was 15.2%]; a tax burden of around 13.5%, a relatively stable exchange rate and the non-recourse to monetary financing.

The draft 2016-17 budget was designed around the following objectives :

• Maintain macroeconomic stability ;

• Ensure the continuation of election financing ;

• Create a favorable environment for the generation of wealth and employment ;

• SSupporting agriculture, livestock and fisheries by maximizing their impact on the economy ;

• Seek greater coherence in the use of resources from the central state administration and autonomous agencies to maximize their impact ;

• Intensify efforts in the areas of public safety ;

• Continue the reform of public finances ;

• Promote entrepreneurship and public-private partnerships ;

• Strengthening resilience of the territory ;

• Continue and strengthen the access to education policy ; and

• Increase vegetation cover of the country.

HL/ HaitiLibre