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
Pilot shows mixed feedback, with 40% of users dissatisfied Tool aims to boost transparency and consumer role in regulation Côte d'Ivoire...
AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW plant to power over 100,000 homes Project highlights...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and social impact by 2030. In West Africa, a region that...
BRVM-listed lender launches CFA1.5 billion capital increase Move aims to meet regulatory requirements and strengthen balance sheet Operation...
Most Read
01

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
02

M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...

In Africa, Banks Face a New Rival: Telecom Operators
03

Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...

Algeria Opens Satellite Market to Competition, Inviting Global Operators
04

Driven by above-average growth and rapidly expanding demographics, Francophone Africa is emerging as...

Francophone Africa: A Rising Economic Giant With Weak Internal Trade
05

Coca-Cola unit trains 260+ SMEs in Namibia business skills Program targets women, youth, disabled...

Over 260 Namibian SME Owners Trained as Sector Faces Mounting Losses
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.