Summary: Burkina Faso

Strong growth prospects amid growing security concerns. S&P Global Ratings expects economic growth in Burkina Faso to average 6.4% over its projection period to year-end 2022. Solid prospects in the mining and agricultural sectors will support real GDP growth, as will infrastructure investments. However, increasing security risk could weigh on prospects. Economic imbalances should keep decreasing, despite vulnerabilities. Following the elections in 2020, we forecast gradual fiscal consolidation, reflecting the requirement to comply with criteria of the Central Bank of West African States (BCEAO), support from the International Monetary Fund (IMF), and the current plan to raise tax revenue and modernize the administration. We expect export revenue to increase, driven by a buoyant mining sector. However, a narrow export base

...Institutional and economic profile Flexibility and performance profile Strong growth prospects amid growing security concerns. + S&P Global Ratings expects economic growth in Burkina Faso to average 6.4% over its projection period to year-end 2022. + Solid prospects in the mining and agricultural sectors will support real GDP growth, as will infrastructure investments. + However, increasing security risk could weigh on prospects. Economic imbalances should keep decreasing, despite vulnerabilities. + Following the elections in 2020, we forecast gradual fiscal consolidation, reflecting the requirement to comply with criteria of the Central Bank of West African States (BCEAO), support from the International Monetary Fund (IMF), and the current plan to raise tax revenue and modernize the administration. + We expect export revenue to increase, driven by a buoyant mining sector. However, a narrow export base leaves the country vulnerable to commodity price swings. + Membership in the West African...

Summary