Haiti – Economic State of Emergency (DG ECHO) (ECHO Daily Flash of 9 February 2019)
The economic situation in Haiti continues to deteriorate. The devaluation of the national currency in relation to the US Dollar (26% in the last 12 months) is accelerating, impacting heavily on prices of imported goods. The inflation index has reached 15% in the last 12 months according to the last price index study. In this situation, and with a budget deficit of approximately US 120 M Dollars in the first trimester of the current fiscal year, the Haitian government has declared on 5 February the Economic State of Emergency. The impact on the Haitian households is severe and the population is struggling to cope with the cost of food and other basic supplies. The projections regarding the food security situation of the population in 2019 are worse than in 2018.