Haiti registers 4% growth in fiscal year 2013

Latest preliminary data from the International Monetary Fund (IMF) have revealed that Haiti has registered gross domestic product (GDP growth) of 4 percent in the 2013 fiscal year.

In June, the IMF lowered its growth forecast for the country to 3.4 percent, down from an initial projection of 6.5 percent. Haiti’s growth this year has been as a result of ongoing reconstruction spending, increased textile exports and a better-than-expected outcome for agriculture.

Inflation which had initially spiked to 7 percent as a result of last year’s drought, dropped to 4.5 percent

The latest figures will come as good news for the Martelly administration, which has come under increased criticism by the country’s citizens regarding the economy and high unemployment.