Burkina Faso’s has an open economy and a developing private sector. The Banking sector has grown in the past decade due to restructuring and liberalization.

(Source: Heritage.org)

Gross domestic product (GDP)

(Sources: imf.org, Select start year as ‘2005’ and ‘prepare report’) e = estimated

Burkina Faso’s GDP experienced steady rise from 2005 to 2009. In 2010, GDP is estimated to reach XOF 4,227.45 billion

GDP Growth Rate

(Sources: African Economic Outlook)

Real GDP rate fell from 2005 to 2007. In 2009, GDP growth rate of the country was registered at 3%. The rate increased till 2011 reaching 5.2%.

Gross National Income (GNI) at Purchasing Power Parity (PPP)

(Source: undp.org, page: 4)

Burkina Faso’s GNI registered shows steady rise from 1990 to 2005. In 2010, GNI is recorded at USD 1,215 million. 

Inflation

(Source: African Economic Outlook)

Burkina Faso’s inflation rate fluctuated strongly from 2005 to 2011. It recorded a fall from 6.4% in 2005 to -0.2% in 2007. Highest rate was witnessed at 10.7% in 2008. As of 2011, CPI inflation is 2.5%.

Tax Rate

Income Tax

Burkina Faso has income tax on individual incomes levied at 30%.

Corporate Tax

The corporate income tax is also 30% and VAT rate across the country is 18%.

(Source: Tax Rates)

The country also levies other taxes on individuals such as: Taxes on dividends, Mortmain Property Tax, Payroll and Apprentice Tax, Tax on Insurance Contracts etc.

(Source: Tax Rates)

Foreign Direct Investment (FDI)

(Source: Worldbank.org)

Burkina Faso witnessed fluctuations in FDI inflow from 2005 to 2009. In 2009, investments were recorded at USD 171.41 million. 

Net Foreign Assets

 

(Source: Worldbank.org)

‘Central Bank of West African States’ is the regulatory authority of the country’s banking sector. From 2005 to 2007, net foreign assets of the nation’s banks and monetary authorities show steady rise. In 2009, the amount was registered at XOF 574,705.92 million.

Consumer Price Index (CPI)

(Source: imf.org, Select start year as ‘2005’ and ‘prepare report’) e = estimated

CPI in Burkina Faso registered a year-on-year increase from 123.49 in 2005 to 142.64 in 2009. In 2010, CPI is estimated to be 145.46.

Interest Rates

Interest rate on deposits witnessed constant rates from 2005 to 2008. Rate on deposits for 2008 was 3.5%.

(Source: Worldbank.org)

Money Supply

(Source: Worldbank.org)

From 2005 to 2009, money supply shows continual growth. In 2009, money and quasi money (M2) was recorded at XOF 1,048.09 billion.

Official Exchange Rate

(Source: African Economic Outlook)

Burkina Faso’s exchange rate experienced steep decline from 2005 to 2008 against USD. In 2011, the exchange value was recorded at 440.8.

 

Government finances

Fiscal Balance

(Sources: imf.org, Select start year as ‘2005’ and ‘prepare report’) e = estimated

 

From 2007 to 2009, Burkina Faso’s fiscal balance witnessed continual deficit. In 2010, balance is estimated to reach deficit of XOF 193.73 billion.

Total Revenue

 

(Sources: imf.org) e = estimated

General government’s total revenue fluctuated from XOF 496.72 billion in 2005 to XOF 771.52 billion in 2009. Estimated Revenue for the year 2010 was XOF 854.02 billion.

Total Expenditure

(Sources: imf.org, Select start year as ‘2005’ and ‘prepare report’) e = estimated

Government’s total general expenditure witnessed growth from XOF 655.18 billion in 2005 to XOF 956.44 billion in 2009. Estimated Expenditure for the year 2010 was XOF 1,047.76 billion.

Tax Revenue

(Sources: Worldbank.org)

Burkina Faso’s tax revenue experienced steady growth from 2005 to 2008. In 2008, tax revenue amounted to XOF 444.65 billion.

Total Grants

(Sources: Worldbank.org)

Grants and other revenue increased from XOF 160.18 billion in 2005 to XOF 245.15 billion in 2007. In 2008, grants were recorded at XOF 186.07 billion.

 

Public Debt Level

 

(Sources: imf.org, Select start year as ‘2005’ and ‘prepare report’) e = estimated

In 2005, government’s gross debt amounted to XOF 1,270.82 billion. Debt level increased from 2006 to 2009. In 2010, public debt was estimated to reach XOF 1,206.28 billion.

Current Account Balance

 (Source: African Economic Outlook)

Burkina Faso’s current account balance registered consistent deficits of USD 962 million in 2008 to USD 698 million in 2011.

Balance of Payments

 

(Sources: African Economic Outlook)

Burkina Faso’s balance of payments registered deficits from 2008 to 2011. In 2011 the deficit amounted to USD 603 million in 2011.

‘Ministry of Labour, Employment and Youth’ along with the ‘Ministry of Labour and Social Security’ govern Burkina Faso’s social development and labour welfare. They support social welfare, safe working conditions and youth development.

(Sources: Ministry of Labour Employment and Youth, Ministry of Labour and Social Security) 

Unemployment Rate

In 2006, unemployment rate in urban areas was around 15%.

(Source: uneca.org, page: 14)

Minimum Wage

In 2011, Burkina Faso’s minimum wage is recorded at XOF 30,684 per month.

(Sources: Minimum Wage)

Burkina Faso’s labour rights were amended in 2008 leading to improvement in trade union participation.     

However, it is difficult to hold strikes in the public sector. Only specifies categories of public service workers have the right to collective bargaining. Labour departments extend support to private sector in case of disputes or industrial relations issues.

(Source: unhcr.org)

Burkina Faso’s government is a parliamentary democracy with a multi-party system.

The President is head of state in Burkina Faso. He guarantees national integrity and independence. He is elected by absolute majority with a term of five years. Council of Ministers is chaired by the President. The President’s powers may be temporarily exercised by the Prime Minister under emergencies. The country’s legal structure comprises of a Legislative branch, an Executive branch, a Judiciary branch and the Local Government.

As of 2010, Mr. Blaise Campaore is the President of Burkina Faso.

(Source: Government of Burkina Faso, bbc, un.org,page: 6-8)

Regulatory Environment

(Source: Heritage.org)

Burkina Faso stands 85^th on the 2011 Economic Freedom Index with a score of 60.6. The country is ranked 9^th amongst 46 countries of the Sub-Saharan Africa region. (Source: Heritage.org)

Freedom of Information

In 2010, Burkina Faso was ranked 49^th on the Press Freedom Index. The index contains countries with scores ranging from zero, implying most freedom, to about 105. Burkina Faso scores 15.00 points on this index indicating moderate regulations on the media.

(Source: rsf.org)

Corruption

The Corruption Perceptions Index (CPI) is a survey that measures the perceived level of corruption across countries worldwide. Burkina Faso is ranked 98^th out of 178 countries in the 2010 index, indicating that it is perceived as moderately corrupt.

(Sources: Transparency.org)

Judicial System

Burkina Faso’s president guarantees independence of judiciary through constitutional rights. The system consists of Supreme Court of Appeal, Council of State, Audit Court, Lower Courts and Tribunals.

High Court of Justice is authorised for trials of the President and government officials. It consists of judges nominated by President and Deputies elected by National Assembly.

(Source: un.org, page: 7)

Population

(Source: Worldbank.org (2005 to 2009), undp (2010), page: 182) 

Burkina Faso’s population shows continual growth from 2005 to 2008. Population increased from 13.75 million in 2005 to 16.3 million in 2010. 25.7% of Burkina Faso’s population is classified as urban.

(Source: undp, page: 182) 

In 2009, population below 14 years of age constituted 46.3%. Men above 60 years of age made up 2.7% of total population and women constituted 3.9%.

(Source: un.org)

The country’s gender ratio was recorded at 103.8 (men per 100 women) in 2010.

(Source: undp, page: 182) 

In 2010, average life expectancy in Burkina Faso is 53.7 years and median age is about 16.7 years.

(Source: undp, undp, page: 182) 

In 2008, under-5 mortality (per 1000 live births) was registered at 169.

(Source: undp)

In 2009, crude birth rate was registered at 47%.   

(Source: unicef.org)                                                                                                                               

Human Development Index

The country is ranked 161^st on United Nation’s Human Development Index. It falls in the category of ‘Low Human Development.’ HDI integrates a country’s life expectancy, schooling and income. This signifies the overall social and economic development of a nation. A rank between 128 and 162 indicates ‘low human development’ on UNDP’s Index.

(Source: undp, page: 146) 

Education

Burkina Faso’s education system is managed by ‘Ministry of Basic Education and Mass Literacy’ and ‘Ministry of Secondary and Higher Education and Scientific Research’. There are national institutes providing technical and vocational training such as training for teachers, centres for non-formal education, agricultural training etc. ‘Centre for Research in Education’ develops academic and educational research.

Pre-schools education lasts three years and is optional. It is mainly concentrated in urban areas. Primary Education lasts for six years. General secondary education consists of a four-year under-graduation course and three years of baccalaureate degree.

Funding of the system is through the state, international organisations and parents’ associations.

In 2010, Burkina Faso’s literacy rate is registered at 28.7%.                       

(Source: ibe.unesco, undp) 

Health

Burkina Souro Sanou in Bobo-Dioulasso and Yalgado Ouedraogo Hospital are the country’s prominent hospitals. Major hospitals are concentrated around urban areas. The country has 72 medical centres, 16 maternity units, 10 regional hospitals, 132 dispensaries and 628 health centres.

HIV/Aids is a major cause of death in Burkina Faso. Health sector needs to concentrate on its preventive measures along with improvements in health services for rural population.

Ougadougou’s hospital is well equipped with modern facilities. There are health centres at Bobo-Dioulasso aimed at developmental research in prevention of insect-borne diseases. The country also has mobile medical centres.

Under new reform programmes, children are regularly immunized for pertussis, diphtheria, measles and tetanus. 

(Sources: Maps of World, Maps of World)

Public Transport

Modes of mass public transport in Burkina Faso include buses and taxis. SOTRACO operates bus system in the Ouagadougou city of Burkina Faso. Five-seater taxis are commonly used. Private transport including cycles and motorcycles, is also popular in the country.

Municipality of Ougadougou and Ministry of Transport are responsible for state transport maintenance and reforms. National government drafted a strategy for 2000 to 2010 for development of road transport sector.

(Sources: Trans Africa Consortium, page: 38)

Airways

Burkina Faso has 25 airports, with the major ones being, Ougadougou and Bobo-Dioulasso.

(Sources: Aircraft World Charter)

Airports

(Sources: Aircraft World Charter)

Telecommunication

Telephone Lines

(Sources: Worldbank.org)

Telephone lines increased steadily from 2005 to 2008. In 2008, there were 144,000 telephone lines in the country.

Mobile Cellular Subscriptions

(Sources: Worldbank.org)

Cellular phone subscribers increased consistently from 5 (per 100) in 2005 to 17 (per 100) in 2008. 

Internet

(Sources: Worldbank.org)

From 2005 to 2008, Burkina Faso’s internet users increased from 0.5% to 0.9%.

Approximately 10,000 out of 16,241,811 people, i.e. 1.1% of population used the Internet in 2010.

(Sources: Internet World Stats)