Haitian Government is expected to soon raise gas prices

Posted by hougansydney.com on Sunday, April 8, 2018 Under: Economy
Related imageThe Haitian government is planning on raising gas prices in around the country in the coming days. The decision to increase the prices of petroleum products was discussed between the Minister of Finance and members of the Finance Committee of the Chamber of deputies.

Officials argue that the raising of gas prices would help reduce the 14 billion gourdes budget deficit for this fiscal year. The government, earlier in the year, had already considered making an adjustment in gas prices, but withheld that decision due strikes and demonstrations of transport unions. A similar response should be expected if the government goes ahead with that plan.

In Its latest report, the UN Secretary General, Antonio Gutterres, said that the overall budget deficit constituted 2.1 % of Gross Domestic Product (GDP). According to the United Nations’ report, the deficit is manly due to subsidies allocated to the public electric company (EDH) which amounts to more that $500 million annually.

In : Economy 

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