Global Tender Notices
  Economy and Business Opportunities from Burkina Faso
Global Tender Notices - Business Opportunities - International Tender Notices
Economy of Burkina Faso

Burkina Faso has an average income purchasing-power-parity per capita of $1,666 and nominal per capita of $790 in 2014. More than 80% of the population relies on subsistence agriculture, with only a small fraction directly involved in industry and services. Highly variable rainfall, poor soils, lack of adequate communications and other infrastructure, a low literacy rate, and a stagnant economy are all longstanding problems of this landlocked country. The export economy also remains subject to fluctuations in world prices.

The country has a high population density, few natural resources, and a fragile soil. Industry remains dominated by unprofitable government-controlled corporations. 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. Maintenance of its macroeconomic progress depends on continued low inflation, reduction in the trade deficit, and reforms designed to encourage private investment.

The Burkinabé financial system represents 30% of the country's GDP and is dominated by the banking sector, which accounts for 90% of total financial system assets. Eleven banks and five non-bank financial institutions operate in the country.

The banking sector is highly concentrated, with the three largest banks holding nearly 60% of total financial sector assets. 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.

Burkina Faso was ranked the 111th safest investment destination in the world in the March 2011 Euromoney Country Risk rankings.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Burkina Faso"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Burkina Faso from all over the world..
This section contains economy and business opportunities and from Burkina Faso
Global Tenders World Tenders International Tenders Copyright 2002-2017 Anroh Global Services Pvt. Ltd./World Information Pages/Global Tenders. All rights reserved.