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African Economic Outlook 2008

image of African Economic Outlook 2008

This fact-filled reference book brings the reader the latest available economic information for most of the economies of Africa.  Drawing on the expertise of both the African Development Bank and the OECD, it opens with an overview that examines the international environment, macroeconomic performance, progress towards attaining the Millennium Development Goals, and governance and political issues. This edition includes a special focus on technical and vocational skills development. The second part provides individual country reports for 35 countries.  Each country report provides an assessment of recent economic performance, projections for 2008 and 2009, an examination of structural issues, and a discussion of the political and social context.  The statistical annex presents 24 tables comparing economic and social variables across all the countries of Africa.

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Burkina Faso

OECD Development Centre

BURKINA FASO REMAINS ONE of the poorest countries in the world, with 44.8 per cent of its population living on less than USD 1 per day. Nevertheless, economic activity has taken a qualitative leap over the past ten years, showing average growth of 5.9 per cent between 1997 and 2006. The growth rate reached 6.1 per cent in 2006, compared to an average of 3.1 per cent in the West African Economic and Monetary Union (WAEMU). These very positive results are due to the pursuit of structural reforms and of steady investment. In 2007 growth nevertheless slowed down to a rate of 4.3 per cent, due to the fall in cotton production. It is expected that there will be a progressive recovery, with projections of 4.7 per cent growth for 2008 and 5.8 per cent for 2009.

English

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