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The Sectoral Framework for Dialogue on Economic Governance Takes Stock in Burkina

Also, in response to the humanitarian crisis, actions have been taken to accelerate the effective start of the stabilization plan for the Ouaga-Kaya-Dori axis (OKD) and the Sahel community recovery and stabilization project. Under the heading of rebuilding the State and improving governance, actions are underway to promote good economic governance, local development, and the industrial sector.

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The 2021 review and mid-term review session of the “Economic Governance” Sectoral Dialogue Framework opened on July 28th, 2022, in Ouagadougou. The presentation and discussion work will focus on three important documents, namely the 2021 sector policy performance report, the sectoral action plan for the transition to economic governance 2022-2025, and its mid-term implementation report. for the year 2022.

This framework will allow actors in the planning sector to conduct dialogue on the implementation and monitoring and evaluation of priority development actions, particularly those defined in the transition action plan, and specifically, the economic governance sector.

Read more about Burkina Faso’s economy and find the latest economic news from around the world with our companion app Born2Invest.

Actions have also been undertaken to strengthen development planning and management

“The government has adopted a transition action plan that stems from the priority actions defined in the transition charter and agenda. It is in this context that the Prime Minister has instructed the holding of annual performance reviews for 2021 coupled with the mid-term reviews for 2022 of the sectoral dialogue frameworks. This session will therefore make it possible to analyze the performance of the year 2021 and also to examine the mid-term report of the activities carried out in 2022 within the framework of the sectoral plan of the transition. It will also allow to review the shortcomings of the actions carried out and to adjust the strategies and actions to be carried out to achieve the results programmed during the years 2022 and also 2025,” explained the vice-president, representative of the Minister of Finance, chairman of the sectoral framework of dialogue, Abdoul Wabou Drabo.

It emerges, among other things, for the year 2021 that the own revenue mobilized reached 2000.25 billion CFA francs at the end of December 2021 on forecasts of 1,867.51 billion CFA francs, or a recovery rate of 107.14%. Resources amounting to 310.56 billion CFA francs were also released to local authorities in the context of the assumption of transferred powers, i.e. 15.3% of the State budget.

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It is also clear that the implementation of investment projects and development programs has made it possible to support numerous promoters and to set up various socio-economic infrastructures for the benefit of the population in the 13 regions.

Under social protection and the inclusion of vulnerable households in the economic circuit, more than ten billion CFA francs have been transferred to vulnerable households. The study on the professional integration of young people showed a professional integration rate for young people estimated at 63.30%.

In addition, and still under the heading of 2021, actions have also been undertaken to strengthen development planning and management, the efficiency of public finance management, land use planning, and local development.

As for 2022, in the fight against terrorism, in particular, the drying up of the sources of supply of all kinds of resources for armed terrorist groups, 101,000 liters of fraudulent fuel have been seized, fraudulent depots of petroleum products have been identified and planning for their dismantling is underway.

Also, in response to the humanitarian crisis, actions have been taken to accelerate the effective start of the stabilization plan for the Ouaga-Kaya-Dori axis (OKD) and the Sahel community recovery and stabilization project. Under the heading of rebuilding the State and improving governance, actions are underway to promote good economic governance, local development, and the industrial sector.

According to Aïssata Sané, Director General of Sectoral Studies and Statistics at the Ministry of Finance, many activities could not be carried out in the field because of the security crisis. Measures are therefore being taken to put in place the appropriate mechanism to enable these activities to be carried out.

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“For example, in order to continue revenue collection in high-risk areas, services have been relocated to more secure locations and thanks to the tele-procedures that have been put in place, these collections are continuing,” she explained.

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(Featured image by ibrahimdiouf via Pixabay)

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First published in lefaso.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Helene Lindbergh is a published author with books about entrepreneurship and investing for dummies. An advocate for financial literacy, she is also a sought-after keynote speaker for female empowerment. Her special focus is on small, independent businesses who eventually achieve financial independence. Helene is currently working on two projects—a bio compilation of women braving the world of banking, finance, crypto, tech, and AI, as well as a paper on gendered contributions in the rapidly growing healthcare market, specifically medicinal cannabis.