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Burkina Faso on track for GDP growth of around 6 pct this year: IMF

Burkina Faso on track for GDP growth of around 6 pct this year: IMF

Burkina Faso

<p><strong>Burkina Faso’s economy is on track to grow by around 6 percent this year, in line with the last two years’ average, the International Monetary Fund said in a statement on Monday.</strong></p> <p>Burkina Faso’s economy expanded by more than 6 percent per year on average during 2016-2017, showing considerable resilience in the face of security and weather-related shocks.</p> <p>‘‘This performance reflects considerable resilience in the face of external shocks, notably three significant terrorist attacks in Ouagadougou over the last two years and a deteriorating security situation in the border regions in the north, as well as poor rainfall in 2017, which threatens food security in the country,’‘ said Dalia Hakura, who led the <span class="caps">IMF</span> team that visited Burkina Faso.</p> <p>The West African nation, which agreed a programme with the Fund in March, will meanwhile aim to reduce its fiscal deficit to 3 percent of <span class="caps">GDP</span> by 2019 after it ballooned to an unprecedented 7.7 percent last year.</p>

This performance reflects considerable resilience in the face of external shocks, notably three significant terrorist attacks in Ouagadougou over the last two years and a deteriorating security situation in the border regions in the north, as well as poor rainfall in 2017, which threatens food security in the country.

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