Public Management

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)

Burkina Faso set to surpass Mali as fourth largest economy in CFA zone by 2024 (IMF)
Tuesday, 23 April 2024 15:19

Collectively, the three AES countries will have a combined GDP of $62.3 billion. Burkina Faso will lead the way, overtaking its neighbor Mali, according to the IMF. Ouagadougou will nevertheless lag far behind the region's leading economy, Côte d'Ivoire, which will post a GDP of $86.9 billion this year.

The International Monetary Fund (IMF) forecasts Burkina Faso to become the fourth-largest economy in the CFA franc zone in 2024, overtaking its neighbor Mali, which will now fall back to fifth place, despite an increase in its economy to $21.6 billion (from $20.6 billion).

According to the institution's data, Burkina Faso's economy, estimated at $20.3 billion (at current prices) in 2023, will reach $21.9 billion this year, ranking behind Côte d'Ivoire, Cameroon, and Senegal. Despite political changes impacting both Burkina Faso and Mali in recent years, particularly their withdrawal from the Economic Community of West African States (ECOWAS), these nations are poised to transition from the CFA franc, which they view as a relic of colonialism, to a new shared currency with Niger. However, the full impact on their GDP remains uncertain pending further details. Primarily reliant on mining resources, both Mali and Burkina Faso are undergoing significant political shifts with potential economic repercussions.

In the CFA franc zone, Côte d'Ivoire maintains its lead among the top economies, fueled by sustained economic growth and ongoing oil and gas projects. The Ivorian economy is expected to surpass $100 billion for the first time in 2026, reaching $109 billion by 2027.

Ranking of CFA zone economies in 2024 according to IMF projections

  1. Côte d'Ivoire - $86.91 billion
  2. Cameroon - $53.20 billion
  3. Senegal - $35.45 billion
  4. Burkina Faso - $21.90 billion
  5. Mali - $21.66 billion
  6. Benin - $21.37 billion
  7. Gabon - $21.01 billion
  8. Niger - $18.81 billion
  9. Chad - $18.69 billion
  10. Republic of Congo - $15.50 billion
  11. Equatorial Guinea - $10.70 billion
  12. Togo - $9.83 billion
  13. Central African Republic - $2.81 billion
  14. Guinea-Bissau - $2.15 billion

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Senegal approves payment for its capital subscription to the African Energy Bank (AEB) APPO says the contribution brings the bank “closer to...
Ethiopia may receive about US$261 million once the review is approved. The ECF programme supports the country’s Homegrown Economic Reform (HGER)...
IFC considers €75.25 million investment in cocoa processor Guan Chong Funds to expand cocoa processing plant in Côte d’Ivoire Project...
Membership grants access to project finance, equity, and risk tools Move supports Horizon 2035 plan to diversify beyond hydrocarbons Equatorial...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...

Benin Government Says Attempted Coup Against President Talon Has Been Foiled
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.