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Burkina Faso Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
19,742,715 (July 2018 est.)GDP (PPP)
$35.85 billion (2017 est.)Cotton and gold are Burkina Faso’s key exports - gold has accounted for about three-quarters of the country’s total export revenues.
GDP growth rate
6.4% (2017 est.)While the end of the political crisis has allowed Burkina Faso’s economy to resume positive growth, the country’s fragile security situation could put these gains at risk.
GDP (PPP) per capita
$1,900 (2017 est.)Poor country with about 80% of the population engaged in subsistence farming.
Local currency
Communaute Financiere Africaine francs (XOF)Pegged to the Euro.
Financial stability (Public debt)
38.1% of GDP (2017 est.)A new three-year IMF program (2018-2020), approved in 2018, will allow the government to reduce the budget deficit and preserve critical spending on social services and priority public investments.
Inflation
0.4% (2017 est.)Low.
Language
French (official), native African languages belonging to Sudanic family spoken by 90% of the populationEnglish not spoken.
Corruption perception index (Source: Transparency International)
78/180High level of corruption.
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
N/A
Corporate Tax
N/A
Duties
N/A
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