The WAEMU States continued their budgetary consolidation actions to ensure compliance with the
convergence standard for the budgetary balance at the end of 2019, in a context marked by implementation
satisfactory imf-supported programs
According to the Bceao, which provides the information, budget implementation has been reflected in the first nine months of
the year 2019, by a reduction in the budget deficit compared to the same period of 2018 due to
an increase in revenues and grants greater than that of public expenditure. The overall deficit, base
commitments, including grants, amounted to 1,503.2 billion or 2.7% of GDP at the end of September 2019 against 1,830.1
billion or 3.3% of GDP a year earlier.
"Budget revenues and grants amounted to 11,348.2 billion in the first three quarters of
the year 2019, up 1,757.7 billion (or +18.3%) compared to the same period of the previous year.
This increase is mainly attributable to the increase of 1,309.0 billion (+16.7%) in tax revenues.
It comes mainly from the performance of financial agencies in terms of resource collection
tax authorities, in connection with projects to modernize the Administration and strengthen the management of
public finances underway in member countries", informs the Bceao in its "Report on Policy
monetary in the Umoa» of December 2019.
The issuing institution reports that the increase in tax revenues was noted in all member states of
the Union. The largest increases were recorded in Mali (+35.9%), Togo (+22.4%) and
Senegal (+22.4%). For Mali specifically, the increase in tax revenues is part of the return to normal, after the underperformance recorded in 2018 at the level of several Services
assessment and recovery following the security disturbances in the country.
Compared to the forecasts for the year 2019, the rate of tax revenue mobilization on the first nine
Month came out at 74.4% against 74.3% in the same period of the previous year. Despite the good
revenue mobilization, the rate of tax burden remains low, below the Community standard
by 20% by 2019. It stood at 15.8% at the end of September 2019 against a level of 14.2% a year earlier.
Net expenses and loans, estimated at 12,851.4 billion at the end of September 2019, showed an increase of
12.5%, year-on-year. This is due to the combined increase in capital and
of current expenditure.
The 10.2% increase in current expenditure, estimated at 8,570.0 billion, is driven in particular by the evolution of personnel costs (+11.3%), transfers and subsidies (+10.3%) and payments
interest on debt (+14.8%). Interest paid on the debt accounted for 10.4% of tax revenues on
first nine months of 2019 against 10.6% over the same period of 2018.
Capital expenditure increased by 13.4%, from 3,458.7 billion at the end of September 2018 to 3,923.6
billion at the end of September 2019, in connection with the continued execution of public investments,
particularly in the field of infrastructure.