Today, it is an understatement to say that the Burkinabe flounders in suffering, fear, uncertainty and ignorance in a deleterious atmosphere tinged with lies, manipulation, demagoguery and overflowing populism. It is frightening, worrying and worrying. The Burkinabè’s only hope remains its resilience. But how long will it last?
Currently, Burkina Faso’s economy is bent under the weight of high price inflation (more than 16%) aggravated by the continuous and growing deterioration of the security situation. This environment does not attract investors.
In addition, the stagnation of wages and incomes due to the lack of increase or adjustment of these, coupled with the stifling “fiscal pressure” imposed to meet the disproportionate financing needs of the State negatively impact consumption at through the drastic drop in the purchasing power of the population. This is fertile ground for food riots. Killing consumption is killing the economy.
And as the purchasing power falls, the population consumes less or not at all. This directly affects production at the national level so that the economy finds itself in very great difficulty. The economy is thus disarticulated, even on the ground and in a situation of de facto bankruptcy.
A titre d’illustrationa hundred companies have closed since 2022 and many national investors have gone to foreign countries when few foreign partners are enthusiastic to take the destination of Burkina Faso.
The long road will still be full of pitfalls with the steady rise in fuel prices and the consequences of the new dynamic undertaken to requisition gold produced by mining companies. Semafo and Bissa Gold have already had bitter experience of this.
The mining sector is still the engine of development in our country. In 2020, the seventeen (17) mines in operation contributed 291.70 billion CFA francs to the state budget, provided 16.1% of GDP and 83% of Burkina Faso’s export earnings.
The healthy economy is always built on the basis of trust, as soon as peace, stability and security are guaranteed. Confidence is first woven inside the country, between the economic actors, on the one hand, and between them and the State and between the partners from outside and the country, on the other hand. And this through a soothing speech and actions that reassure economic players.
Field commanding the maneuver as the army teaches, the economy of Burkina Faso has hit the bottom of the abyss and before it is too late, let us act as patriots who love our country. Let us correct the trajectory currently given to the economy, by restoring confidence through peaceful and reassuring actions and gestures and by bringing together in unison on and reconciliation, all the daughters and sons of Burkina Faso, whose ultimate quest is to live together in conviviality and fraternity for the happiness of all.
And the Burkinabè really need to live together in peace and trust in order to be able to meet all the challenges facing them by giving priority and urgency to the reconquest of the entire national territory and the restoration of security.
This will facilitate the organization of the return to normal constitutional order in our country, which has been going through a transition since January 24, 2022. The era of renewal will begin for Burkina Faso, which will resume healthy and trust, thus creating an attractive and favorable environment for receiving investment. And Burkina Faso, our dear homeland needs it.
May God facilitate!
“Nothing stops an idea that has arrived in its time”
Dr Ablassé OUEDRAOGO
Commander of the National Order
