BCEAO reports on Burkina Faso’s external accounts

The national management of the Central Bank of West African States (BCEAO) announced on February 26, 2019, the state of Burkina Faso’s external accounts for the year 2017. It appears that the balance payments are in excess of 246.976 million CFA francs and the current account balance has remained in deficit of 521.6 million CFA francs.

The surplus of the balance of payments is that of the capital account (donations and capital transfers to the public administration) of 172.8 million CFA francs and the financial account (portfolio investment and other investments private) of 599, 1 million CFA francs, according to the explanations of Sibiri Traoré, in charge of the sectors of money and public finances in the Burkinabe branch of the BCEAO.

And to continue that the balance of current transactions is composed of the trade balance deficit of 522.5 million CFA francs, primary income deficit of 230, 4 million CFA francs and secondary income which, alone, was surplus of 231 , 5 million F CFA.

In addition, Burkina Faso’s overall external investment position (PEG) stood at nearly 4,330,655 million CFA francs at the end of 2017, compared with 3,009,789 million in 2016.

As a reminder, for the year 2016, BCEAO net foreign assets contracted by 70,927 million while those of other deposit-taking institutions were consolidated by 310,328 million. That is a surplus of 239,401 million corresponding to the overall balance of payments.

LEAVE A REPLY

Please enter your comment!
Please enter your name here