Dominican Republic and Haiti: Country Studies

Dominican Republic and Haiti: Country Studies
the same as that of the United States government, running
from October 1 to September 30. Fiscal year dates of reference
for these two countries therefore correspond to the
year in which the period ends. For example, FY 2000
began on October 1, 1999, and ends on September 30,
2000.
Generalized System of Preferences (GSP)—The United States
Generalized System of Preferences provides preferential
duty-free entry for more than 4,650 products from some
140 beneficiary countries and territories. The program's
intent is to foster economic growth by expanding trade
between the United States and the developing GSP beneficiaries.
Instituted January 1,
1976, the GSP authorization
has been renewed by Congress a number of times since.
The latest renewal occurred in December 1999.
gourde (G)—The Haitian monetary unit, divided into 100 centimes.
The official exchange rate was originally set in 1919
at G5 = US$1. Political crises of the early 1990s, the international
embargo, and the sharp drop in government revenues
had reduced the value of the gourde by about 80
percent as of 1994. In 1999 the value of the gourde fluctuated
between G17.5 and G18.3 to US$1.
gross domestic product (GDP)—A value measure of the flow of
domestic goods and services produced by an economy
over a period of time, such as a year. Only output values of
goods for final consumption and investment are included
because the values of primary and intermediate production
are assumed to be included in final prices. GDP is
sometimes aggregated and shown at market prices, meaning
that indirect taxes and subsidies are included; when
these have been eliminated, the result is GDP at factor
cost. The word gross indicates that deductions for depreciation
of physical assets have not been made. See also gross
national product.
gross national product (GNP)—The gross domestic product
(q.v.) plus the net income or loss stemming from transactions
with foreign countries. GNP is the broadest measurement
of the output of goods and services by an economy.
It can be calculated at market prices, which include indirect
taxes and subsidies. Because indirect taxes and subsidies
are only transfer payments, GNP is often calculated at
factor cost by removing indirect taxes and subsidies.
industrial free zone(s)—Also known as free trade zones, or free
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