Finance of Burkina Faso

The minimum monthly wage in Burkina Faso is 62 USD. Burkina Faso has a government debt of 126.1% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Burkina Faso is 2.1%. The currency of Burkina Faso is West African CFA Franc. The plural form of the word West African CFA Franc is CFA francs. The symbol used for this currency is Fr, and it is abbreviated as XOF. The West African CFA Franc is divided into centime; there are 100 in one CFA Franc. Each year, consumers spend around $57,644 million. The ratio of consumer spending to GDP in Burkina Faso is 0.46%, and the ratio of consumer spending to the world consumer market is 16.62%. The corporate tax in Burkina Faso is set at 27.5%. Personal income tax ranges from 2% to 30%, depending on your specific situation and income level. VAT in Burkina Faso is 18%. In 2013, Burkina Faso received 1158.5 million USD in foreign aid.In 2014, the foreign aid amounted to 995.1 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Burkina Faso is $29,417 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Burkina Faso was last recorded at $1,489,344. PPP in Burkina Faso is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Burkina Faso is 12,547 billion. Based on this statistic, Burkina Faso is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Burkina Faso was last recorded at $635,238. The average citizen in Burkina Faso has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Burkina Faso averaged 6.7% in 2014. According to this percentage, Burkina Faso is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.