Charles Castel, BRH, deficit well below one percent of GDP

Four months into the fiscal year, figures from the government of Haiti's (GOH) Budget Office suggest the Haitian economy is suffering an extreme lack of growth. A revenue deficit between 9 to 14 billion gourdes has been calculated from figures submitted by the Directorate General of Taxation and General Administration of Customs.


Senator Jocelerme Privert, who heads the Economy, Finance, and Budget Commission, revealed her fears the economy is not growing according to estimates given at the first of the year. In fact, according to her, revenues have fallen far short of projections.

Bank of the Republic of Haiti, Governor Charles Castel, representing the government of Haiti (GOH), responded to Privert at an arranged news conference. He said she was relying on incomplete information; the revenue deficit is not as bad as she thinks it is. He said her figures don't take into account the GOH's expenditures, when subtracted from revenues, comes to only a 2.6 billion-gourde public deficit. The public deficit is the difference between revenues and expenditures, and is the correct figure by which to determine the deficit.

Charles Castel said Privert's claims that GOH revenues are less than forecasted doesn't take into account GOH's spending was also less than predicted. He insisted Privert's figures don't contradict his own, because GOH revenues don't only rely on income taxes, but also on foreign-aid budget funding. But one wonders, why is foreign aid not included in the budget figures Privert drew upon?

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Read more: Jocelerme Privert, GDP, BRH, Charles Castel, Business & Finance

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