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Mining sector: Burkina Faso's economy will grow in 2024

09/11/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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The International Monetary Fund (IMF) has indicated that Burkina Faso will experience a growth rate of 6.4% in 2024, an increase of 2 points compared to 2023.

The mining sector will weigh heavily in the expected real GDP growth in 2024. Indeed, the latest IMF special report published in October 2023 on Africa mentions that Burkina Faso's growth rate will rise from 4.4% in 2023 to 6.4% in 2024, compared to 1.5% in 2022. This expected growth rate is higher than that in Sub-Saharan Africa, which, again according to the IMF, will reach 4% in 2024, compared to 3.3% in 2023. Burkina Faso's GDP growth is estimated at 14,276 billion FCFA in 2024, compared to 13,018 billion FCFA in 2023, while it stood at 11944 billion CFA francs in 2022, according to projections by the General Directorate of Economy and Planning (DGEP), of the Ministry of Economy, Finance and Foresight. It should be noted that according to the national economic outlook over the period 2024-2026, economic activity will decline with a growth of 5.9% in 2025 and 5.7% in 2026

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