Ouagadougou, June 28, 2020 (AIB) – Burkina Faso's debt in 2019 was precisely 3,967 billion FCFA, said Saturday in Boromo, the Minister in charge of the Economy Lassané Kaboré.

"Burkina Faso's debt in 2019 was around 3,967 billion FCFA which is distributed for external debt to more than 2,100 billion FCFA and domestic debt to 1,700 billion FCFA," said Saturday in Boromo the minister in charge of the economy Lassané Kaboré.

M. Kaboré was speaking Saturday in Boromo during the program 'Antenne directe' of the national radio.

According to Lassané Kaboré, if he "compares this debt incurrence with Community standards", Burkina Faso, is not "out of the ordinary" because it is "at a rate of about 47%, against a norm of 70% in relation to Gross Domestic Product (GDP)".

"Our debt is sustainable, we do our utmost to be careful in our debt policy," he said.

He explained that "debt as such is not bad", but specified that it must be used by the populations in particular for "access to energy, roads, water, modernization of agriculture, the development of growth poles'.

Lassané Kaboré acknowledged the late payments of domestic debts but justified this by periods of cash flow stress.

However, he notes that his ministry has "succeeded in reducing payment delays with regard to our internal companies and small amounts".

To solve the problem of late payments of domestic debt, the minister said that his department is working on "a project of dematerialization of public procurement".

This, he said, will allow the state's creditors to file online the supporting documents of what is due to them without going through physical agents who often driven by the desire for corruption, drag the files.