Highlights 

• Notwithstanding the security challenges facing Burkina Faso, the country is expected an average growth rate of 6.3 % over the 2016-2018 period. This growth is due to the increase in gold production over the period and to the positive outlook in the agricultural sector, which should translate into an increase in the production of cotton as well as cereal production. In 2019, the growth rate is estimated to 5.7 % after 6.8% a year earlier. The growth rate would be 2.0% in 2020, due to negative effects of the COVID-19 pandemic on the economic activity.
• Like other Member States of the Union, the inflation remains under control in Burkina Faso. The inflation rate is expected to be at -3.2 % in 2019 against 1.9 % in 2018. The inflation rate would settle at 1.6 % in 2020.
• The primary sector accounts for almost a third of the Burkinabe economy and is a strategic sector for Burkina Faso. It employs close to 80 % of the workforce and is a source of foreign exchange for the country. In addition, the country is the leading African cotton producer. The tertiary sector remains the engine of the country’s growth with a contribution to growth estimated at 4.8 percentage points in 2019 after 3.3 points in 2018. Contributions to growth in the primary and secondary sectors were established in 2019 at the same level at 0.5 points, down 0.8 and 1.8 points respectively compared to 2018.
• Due to the increase in investment expenditure attributable to the implementation of the National Economic and Social Development Program (PNDES) and the increase in current expenditure, the budget deficit related to GDP has been above the community standard of 3.0% over the period 2016-2018. The budget deficit was contained at 3.0% of GDP in 2019 and is expected to settle at 5.0% in 2020 in line with the impact of the COVID-19 on revenue mobilization and the increase in current spending.