Haiti Economic Outlook
March 13, 2018The economy slowed in the second half of 2017, in large part due to the effects of Hurricanes Harvey and Irma. However, on 25 February, the country reached a staff-level agreement with the IMF, paving the way for a development program covering the March–August 2018 period. On 28 February, the government decided that all transactions conducted on the territory must now be paid in Haitian gourde (HTG), in a move that provoked surprise from industry groups as it has the potential to disrupt economic activity, which was mostly conducted in USD beforehand.
Haiti Economic GrowthGrowth should gather steam this year, thanks to buoyant global growth and reconstruction spending. Key downside risks remain, however, including the high poverty rate and seasonal hurricanes. The recent decision by the U.S. administration to end Temporary Protected Status for Haitians in July 2019 also threatens remittance inflows, which account for just under 34% of GDP. FocusEconomics panelists foresee growth of 2.4% in 2018, which is down 0.1 percentage points from last month’s forecast. The panel expects the economy to expand 2.6% in 2019.
Haiti Economy Data
5 years of Haiti economic forecasts for more than 30 economic indicators.
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|Exchange Rate||64.32||-1.13 %||Mar 15|
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