Burkina Faso / 3.6% economic growth in 2023: President Ibrahim Traoré works wonders with his good governance!
In Burkina Faso, on Wednesday, May 22, 2024, the weekly Council of Ministers meeting was held, presided over by the Head of State, President Ibrahim Traoré. During this session, several crucial matters were examined, and important reports were adopted to ensure good governance and national development. The State Minister and Government Spokesperson, Jean Emmanuel Ouédraogo, highlighted the notable progress made by the country.
Despite a challenging context marked by insecurity due to terrorism, Burkina Faso recorded remarkable economic growth of 3.6% in 2023, a significant increase from the 1.8% rate in 2022. This achievement was announced by the Burkinabe Minister of Economy, Finance, and Prospective, Aboubacar Nacanabo. This result demonstrates the country’s resilience and determination to overcome challenges and maintain a positive growth trajectory.
For 2024, Burkina Faso aims for an ambitious growth rate of 5.5%. This optimistic forecast is supported by rigorous economic policies and structural reforms designed to strengthen the foundations of the national economy. Continued efforts to improve security and attract investments are also expected to contribute to achieving this goal.
Another notable achievement for Burkina Faso in 2023 is the dramatic reduction in the inflation rate, which dropped from 14.1% in 2022 to just 0.7% in 2023. This significant decrease reflects the government’s efforts to stabilize prices and enhance the purchasing power of citizens in an unstable global economic context.
Burkina Faso, under the leadership of Captain Ibrahim Traoré, shows encouraging signs of economic growth and stability despite ongoing security challenges. With prudent economic management and continuous reforms, the country is on track to meet its development objectives for 2024. The Burkinabe government, under President Ibrahim Traoré’s direction, remains committed to building a prosperous and secure future for all its citizens.
