|
|
 |
Macro Economy of Burkina Faso |
|
|
| I. Gross Domestic Product (GDP) |
| GDP Resources |
2004 |
2005 |
2006 |
2007 |
| Current GDP (in billion FCFA) |
2656.74 |
2862.73 |
3017.82 |
3245.78 |
| Per capita GDP current prices (in FCFA) |
204 063 |
214 214 |
219 793 |
230 394 |
| GDP in constant 1999 FCFA (billions) |
2369.60 |
2537.95 |
2677.66 |
2785.28 |
| GDP per capita at constant prices (FCFA) |
182 008 |
189 911 |
195 019 |
197 707 |
| Source: MEF / DGEP, IAP, scenario of March 2008 |
|
| |
II. Consumer Prices
The rate of inflation was -0.3% in 2007 against 2.4 in 2006. The control of inflation can be explained by the 1.6% drop in food prices, 1.6% decline in prices of housing, water, electricity (governmental measures), etc. |
| |
| III. Public Finances |
| Description |
Amount in 2007 (billion FCFA) |
| Tax revenue |
440.05 |
| Non-tax revenue |
34.85 |
| Source: Ministry of Economy and Finance, Review of implementation of priority actions of the CSLP for 2007 |
|
| |
IV. External Debt
The outstanding global debt went from 1,068.98 billion CFA francs in 2005 (37.3% of current GDP) to 766.45 billion in 2007 (23.6% of current GDP). |
| |
| V. External Situation |
| |
2006 |
2007 |
| Exports (billion FCFA) |
307.6 |
292.7 |
| Imports (billion FCFA) |
562 |
585.1 |
| Trade balance (billion FCFA) |
-254.4 |
-292, 5 |
|
| |
Source: Ministry of Economy and Finance, review of implementation of priority actions program of CSLP for the year 2007
Burkina Faso has a structural trade deficit. The decline in exports in 2007 is due to lower exports of cotton fiber. |
| |
VI. Status of the Convergence Criteria of the UEMOA
Evolution of the main macroeconomic indicators |
| |
2006 |
2007 |
UEMOA Norms |
| Real GDP Growth (%) |
5.5 |
4 |
|
| Average annual inflation rate-IHPC-(%) |
2.4 |
-0.3 |
Max 3 |
| Overall incidence of poverty (%) |
42.1 |
-0.3 |
42.6 |
| Basic fiscal balance excluding donations (% of GDP) |
-4.5 |
-4.9 |
Min 0 |
| Current account deficit excluding donations (% GDP) |
8.8 |
14.8 |
Max 5 |
| Gross international reserves (in import months) |
3.7 |
3 |
|
| Total outstanding debt relative to nominal GDP (%) |
21.8 |
23.6 |
Max 70 |
| Rate of Fiscal pressure(%) |
11.9 |
12.5 |
Low 17 |
| Ration on payroll tax revenue (%) |
44.1 |
46.4 |
Max 35 |
| Public investment financed from own resources related to tax revenue (%) |
42.7 |
35.5 |
Min 20 |
|
| |
| Source: Ministry of Economy and Finance, Review of implementation of priority actions of CSLP for the year 2007. |
|
|
| |
|
|
|
|
