Average wages in 2007 hover around 2 to 3 dollars per day. Although handicapped by an extremely resource-deprived domestic economy, Burkina Faso remains committed to the structural adjustment program it launched in 1991.
Following the African franc currency devaluation in January 1994 the government updated its development program in conjunction with international agencies, and exports and economic growth have increased.
It has largely recovered from the devaluation of the CFA in January 1994, with a 1996 growth rate of 5.9%. Many Burkinabé migrate to neighbouring countries for work, and their remittances provide a substantial contribution to the balance of payments.
It has largely recovered from the devaluation of the CFA in January 1994, with a 1996 growth rate of 5.9%. Many Burkinabé migrate to neighbouring countries for work, and their remittances provide a substantial contribution to the balance of payments.
Average wages in 2007 hover around 2 to 3 dollars per day. Although handicapped by an extremely resource-deprived domestic economy, Burkina Faso remains committed to the structural adjustment program it launched in 1991.
Mean wages were $0.56 per man-hour in 2009. Current GDP per capita of Burkina Faso grew 13% in the Sixties reaching a peak growth of 237% in the Seventies.
Burkina Faso has an average income purchasing-power-parity per capita of $1,900 and nominal per capita of $790 in 2014.
5.9% in 2016) primarily due to gold production and increased investment in infrastructure.
In 2017, economic growth increased to 6.4% in 2017 (vs.
Banks are generally adequately capitalized, but remain vulnerable due to their overexposure to the cotton sector, the prices of which are subject to significant oscillations. A December 2018 report from the World Bank indicates that cotton had become the most important cash crop, while gold exports were increasing in recent years.
Livestock, once a major export, has declined. A 2018 report by the African Development Bank Group discussed a macroeconomic evolution: "higher investment and continued spending on social services and security that will add to the budget deficit".
This group's prediction for 2018 indicated that the budget deficit would be reduced to 4.8% of GDP in 2018 and to 2.9% in 2019.
This group's prediction for 2018 indicated that the budget deficit would be reduced to 4.8% of GDP in 2018 and to 2.9% in 2019.
All text is taken from Wikipedia. Text is available under the Creative Commons Attribution-ShareAlike License .
Page generated on 2021-08-05