Haiti – Economy: Uncertain outlook for the coming months
12/05/2024 09:48:31
In its first quarter report, the Bank of the Republic of Haiti (BRH) indicates that the Haitian economy continued to suffer the negative effects of internal and external shocks, which affected the main economic indicators which hampered the economic growth…
Socio-political tensions and the closure of main ports and airports have had an impact on prices in the productive sector. For its part, the BRH maintained the posture adopted during the previous year, aiming to guarantee the stability of the financial system.
The economic outlook for the coming months remains uncertain to the extent that the security situation is decisive in shaping the expectations of economic agents.
The sharp deterioration observed since February 2024 in addition to climatic conditions and geopolitical tensions at the level of the international economy risks further weakening the Haitian economy.
In terms of agricultural production, the National Coordination for Food Security (CNSA) anticipates good weather conditions in the short term, which should be beneficial for the spring harvest. An improvement in the security situation should facilitate a certain resumption of production activities for goods and services at the level of companies which have not suffered significant damage. Such a situation would be conducive to greater collection of the Public Treasury.
Furthermore, maintaining resource mobilization efforts by the State would augur a loosening of the constraints weighing on monetary policy. This would lead the Central Bank to adopt a posture moving in the direction of an easing of monetary conditions, which would be favorable to the revival of the economy.
Download the full BRH report 1st semester 2023-2024 (French PDF, 13 pages): https://www.haitilibre.com/docs/Note-Sur-La-Politique-Monetaire-Oct-2023-Mars-2024.pdf
HL/ HaitiFree
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