Haiti Economic Outlook
December 3, 2019In the second half of the year, the economy will be suffering heavy damage from ongoing social unrest, which is occurring against a backdrop of fuel shortages and elevated inflation. Business and consumer sentiment are being severely hampered, while humanitarian aid has been disrupted due to road blockages and insecurity. This comes after the economy contracted slightly in Q2 on lower agricultural, mining and manufacturing output. In November, the IMF concluded a staff visit, and urged the government to take necessary steps to restore macroeconomic stability, publish a 2020 budget framework and tackle corruption. The Fund also stated that a financial support package announced in March this year had been shelved; any chance of securing IMF funding ahead will depend on a credible economic reform program.
Haiti Economic GrowthThe economy should recover somewhat in 2020, although this hinges on a stabilization of the political situation. In any case, growth will be mild, weighed on by still-elevated insecurity and high inflation. A potential intensification of social unrest and vulnerability to natural disasters pose downside risks. FocusEconomics panelists foresee growth of 1.1% in 2020, which is down 0.1 percentage points from last month’s forecast, and 1.3% in 2021.
Haiti Economy Data
5 years of Haiti economic forecasts for more than 30 economic indicators.
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