Highlights 

  • After the renewed growth observed in 2016, Burkina Faso’s economy is expected to grow at an average rate above 6.0% in the medium term, in part thanks to the increase in production of cotton and gold as well as grain production.
  • First African producer of cotton, the burkinabe Government implements reforms to improve the business climate.
  • Due to the increase in expenditures for investment and wages in the civil service, the budget deficit widened in 2016 (3.9) and especially in 2017 (7.8). However, budgetary consolidation measures should bring this deficit to the level of the community standard of 3% from 2019.
  • Like most of WAEMU Member States, inflation remains contained (+ 0.4% in 2017) in connection with the increase of grain production and lowering fuel price at the pump.
  • Foreign investment in the gold sector helped the country to become the fifth largest gold producer in Africa. Companies involved in the manufacture of mining equipment, finance and investment, geophysical mapping and consultancy are best placed to take advantage of the revitalization of Burkina Faso’s mining industry.
  • The external deficit is expected to widen in connection with the rise in investment spending. This deficit is largely funded through external support and the resumption of foreign direct investment (FDI) flows especially in the mining sector.

 

2013 2014 2015 2016 2017 2018
GDP growth (%)   5.8 4.3 3.9 5.9 6.3 6.7
Inflation rate (annual average) 0.5 -0.3 0.9 -0.2 0.4 1.7
Underlying budget balance / Nominal GDP (%)* -3.6 -1.9 -2.0 -3.9 -7.8 -5.0
Investment ratio* 32.5 25.9 24.3 22.4 24.2 23.1
Current balance* -11.3 -8.1 -8.6 -7.2 -7.2 -7.0
Overall debt* 28.8 30.4 35.8 38.3 38.3 41.0

Sources : BCEAO except the debt data provided by the IMF (Regional Economic outlook report, April 2018)
* in % of GDP 

InstrumentDate of operationValue dateDeadlineAmount
(in millions of FCFA)
StatusMore