Macroeconomic and Developmental Indicators
Mali Economic Outlook
Over the 2014-19 period, Mali recorded an average real growth of 5.7%, higher than the ECOWAS average growth (4.5%). Economic activity in the country slowed down between 2016 and 2018 before recovering in 2019. In terms of prospects, Mali’s economic activity in 2020 is expected to be relatively stable compared to the level in 2019.
Over the same period, Mali recorded an average annual GDP per capita of USD 2,048.6, lower than the ECOWAS average of USD 2,753.4. Since 2014, Mali has recorded continuous growth in per capita GDP. At the same time, Mali’s population grew with an average annual rate of 3% and the country is still classified in the low Human Development category. In 2009, Mali’s poverty rate was recorded at 41.1% while the GINI index measuring income inequality was estimated at 33%.
Inflation remained moderate and well below the 3% of GDP threshold set by the WAEMU convergence criteria. Fiscal balance has always been in deficit. After its deterioration in 2018, Mali was able to establish its fiscal balance at -3% of GDP in 2019, meeting the threshold set by the WAEMU convergence criteria.
Over the period 2014-19, Mali’s public debt averaged of 34.1% of GDP. Debt levels are though within the threshold (≤ 70% of GDP) set by the WAEMU convergence criteria. The current account remained in deficit, with an average annual deficit of 5.6% of GDP. The credit to the private sector increased unevenly, with an average annual growth rate of 12.2%. In terms of business environment, Mali is ranked 148th out of 190 countries on the 2019 World Bank Ease of Doing Business Survey.