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In Burkina Faso, covid-19 will cost 5 points of growth

27/06/2020
Source : Financial Afrik
Categories: General Information

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 In Burkina Faso, the effects of the covid-19 crisis will cause a loss of 5 to 6 points of growth in Gross Domestic Product in 2020, said the Burkinabe Minister of Trade, Industry and Handicrafts Harouna Kaboré, on the sidelines of the celebration of the "International Micro Day, Small and Medium Enterprises", on 27 June each year.

In Burkina Faso, MSMEs constitute about 90% of the economic fabric with a contribution to the formation of GDP of around 40%. The sector is supported by the authorities through the SME Promotion Orientation Law No. 015-2017/AN of 27 April 2017 and the Decree adopting the SME Charter No. 2017-1165/PRES/PM/MCIA/MATD/MINEFID of 27 November 2017, which defines advantageous provisions in terms of taxation, access to public procurement, access to finance and land whose effects are felt.

To date, Burkina Faso has 903 confirmed cases of coronavirus including 53 deaths and 819 patients recovered.

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