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

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.

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.

‘‘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 IMF team that visited Burkina Faso.

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.

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 GDP by 2019 after it ballooned to an unprecedented 7.7 percent last year.