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gdp - Haiti Observer Blog

GDP, Haiti Observer Blog. Read the following articles about GDP


 

Gross Domestic Product (GDP) in Haiti, increased by 4.3% in 2013

The preliminary estimate of "Economic Accounts 2013" by Haitian Institute of Statistics and Informatics (IHSI) has revealed that the Gross Domestic Product (GDP) in Haiti has increased in volume by 4.3% to 48%. The previous year the same increase rate in volume was by 2.3% and that was corresponded by a revised GDP growth rate of 3.4% measured in the middle of the year. The projected growth rate for 2012 was estimated at 6.5% earlier. Every sector in the country has contributed positively with additional growth towards country's GDP.

The agricultural sector has contributed additional 4.6% by value against 1.3% in 2012. The building and public works which consists the works of reconstruction of public buildings, major infrastructure and certain private sector initiatives have also added 9% more. The catering and hospitality sectors have added 5% value. Other industries, although have smaller contribution in GDP, have shown upward trend. The domestic consumption in the year 2012 was less by 5% over its previous year and that too had experienced an increase in volume by 2.8% in 2013. This was the result of foreign remittances by the migrant citizens and transfers by government to the households in cash and kind. Last year, the country enjoyed a stable business environment and the economy was further boosted by government spending.

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Decline in inflation and macro-economic stability in Haiti in 2013

Haitian's can benefit from a small, yet sizeable gift this holiday season of a significantly lowered rate of inflation as well as the most auspicious level of stability in the field of macro-economics. The bearer of this good news was the 24th Government Council which was held recently under the chairmanship of the country's Prime Minister, Laurent Lamothe.

Based on the theme, 'Fight against Corruption and Smuggling; Current Status and Perspectives', the council's meeting was the place to reveal the 4.5% decline to the rate of inflation and the stability of the country's macro-economy, progress that are in thanks to reforms of the economy, public finances and also the government's rationalized spending.

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According to IMF, Haiti GDP Grew By 4 Percent in 2013

And the, if not good then, hopeful news keeps on coming. Information coming from the Haitian Institute of Statistics and Informatics (IHSI) along with the Ministry of Economy and Finance shows there has been a registered increase of 6.4% of the index of industrial production. Baldly put, the Haitian gross domestic product has risen.

Detailed in the Q4 2012 to 2013 publication for July through to September, the results also showed a 2.5% increase of the quarter before. The increase is also backed by data from the International Monetary Fund (IMF), which is slightly up from the forecast made earlier in June of 2013 which put the growth percentage at only 3.4%.

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Haiti Continues to Receiving Food Aid & Not Agricultural Support

Haiti has been depending on food aid for over last 50 years. Decades of inexpensive imports has destroyed the local agriculture. Haitian import tariff on food at 3% are among the lowest in the Caribbean. As a result, Haiti is unable to feed himself.

Today Haiti depends on the outside world nearly most of its sustenance. Fifty five percent of the food eaten in the country is imported, mostly from U.S and the Dominican Republic; this includes 80% of all the rice consumed within the country. However, recently some of the international aid agencies have raised a cry of alarm. Haiti is facing severe food shortage. Almost two-thirds of the population (around 7 million people) is hungry.

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Haiti gross domestic product went up to 4 percent in 2013

Should Michel Martelly say: Yap Rablabal, map travail? If you look at the latest data coming from the International Monetary Fund, you would say that he is right.

based on the latest information from the International Monetary Fund, Haiti's gross domestic product grew in the 2013 fiscal year by almost 4 percent. This is preliminary information that will be verified after the entire year is over. This is better than expected as the International Monetary Fund projected the growth at 3.4 percent as late as last June of this year.

Si se konsa, anbin bagay yo pa pi mal!

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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.

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Haiti to Post Caribbean's Fastest Growth in 2013

The past few years have been very promising for the island country of Haiti, despite the 7.0 magnitude earthquake that occurred about three years ago. It is actually one of the fastest growing economies in the region, thanks to the recent efforts of the Haitian government and the international community.

In a recent report published by the United Nation's Economic Commission for Latin America and the Caribbean (ECLAC), Haiti will be the leading and fastest-growing economy in the Caribbean in terms of GDP growth which is projected to increase by 6% by the year 2013. It was also supposed to be at the number one spot for 2012 with an initial estimate of 6% growth earlier in the year, but was decreased to a 2.5% growth by the ECLAC, as well as the International Monetary Fund (IMF), due to the bad effects of the major storms that hit the country this past year. Back in 2011, Haiti's GDP grew by 5.6%.

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