According to the Haitian Institute of Statistics and Information Technology, “the Haitian economy, as expected, has not been able to resume growth during the fiscal year 2022-2023, sinking further into recession for the fifth consecutive year.”

In fact, GDP had already declined by 1,7% in 2022, the Haitian agency specifies.

The main challenges remain inflation, problems with the supply and distribution of petroleum products, and the depreciation of the national currency, combined with a persistent climate of insecurity.

All of this jeopardizes the implementation of programs and projects that should be developed to achieve growth and poverty reduction objectives.

Another problem damaging Haiti’s economy is the decline in private investment and the slow pace of implementation of the Public Investment Program, in particular the delay in the implementation of the Integrated Recovery Plan for the Southern Peninsula, which are unable to play their role as a catalyst for growth.

Exports which account for an average of 40% of GDP declined by around 21,6% in the first five months of last year.

In addition, Haiti’s economic performance is influenced by natural phenomena resulting from climate change.

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