Upper Volta - Current economic position and prospects : updating memorandum

0 Jj9 ('fpv RESTRICTED ILEILAUJS %O%YJI it Report No. AW-34a TIiis report is tor otticiai use only by tne Bank Group and spectiically autnorizea orginizations or persons. It may not be published, quoted or cited without Bank Group authorization. The R'ank Group does not accept res'onsib-Hity for the, aerurc or eo-mmnleteness of the reDart. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION C U R R EN T E CONOM1IviC PO S IT'ION AND PROSPECTS OF UPPER VOLTA - Updating Memorandum - January 13, 1972 Western Africa Department  CURRENCY EQUIVALENTS Currency Unit: CFA Franc (CFAF) Before August 11, 1969: TTR 1.00 CFAF 2I06.85 CFAF 1,000 US$ 4.05 August 11, 1969 - August 1h, 1971: ITTRt 1 = rTPAw 977 71 CFAF 1,000 = US$ 3.60 After December 20, 1971: TT$c 1 0 = CFAF 2 . 70 CFAF 1,000 = US$ 3.91 WEIGHTS AND MEASURES 1 Metric Ton (t) = 2,2.05 lbs. 1 Kilometer (km) = 0.62 mile 1 Meter _rit) = 3.8 feet  TABLE o0 CONTlNTS Page No. BASIC DATA MAP 1. SUMMARY AND CONCLUSIONS ................................. i - iv 2. RECENT DEVELOPMENTS AND PERFORMANCE ..................... 1 - 10 2.1 Recent marco-economic developments .... ............. 1 2.2 Major Sectoral trends .............................. 2 2.3 Balance of payments position & external indebtedness ..................................... 4 2.4 Fiscal and monetary performance .... ................ 6 2.5 Implementation of the Development Plan, 1967-70 .... 9 3. ECONOMIC PLANNING AND PROSPECTS ......................... 10 - 15 3.1 The new Development Plan, 1972-76 .... .............. 10 3.2 Future development potentials ...................... 11 3.3 Assessment of development planning and prospects 14 STATISTICAL APPENDIX LIST OF CHARTS AND TABLES IN THE TEXT Chart 1: Lorenz curve of Upver Volta's income distribution . . 3 Table 1: Budget profile, 1966-71 .. 7 Table 2: Financing structure of the Development Plan. 1967-70 ....... ..... ........ 9 Table 3: Hypothetical growth projections, 1972-76 11 Thig report was prepared by Rolf H. Glaesev anA ia hbadA on an ecnomic updating mission to Upper Volta in September/October 1971.   BASIC DATA Area.: 274.200 sauare kilometers: 106,000 square miles Population: 5.2 million (1970 estimate) Rate of growth: ca.. 2 percent per year Density: 46 per square mile (Mossi area.: 108) 19 per sqnure ki11omeP.Pr (Mossi area: 42! Political status: Independent: August 1960 Per ca.p--t3-. GD: T4Z $59fQ t/I 1 7n-^- e Gross Domestic Product: 1964 1968 1970 1/ Current market prices 1 CFAF billion 69.2 77.9 85.5 US$ million 280.3 315.6 307.9 Estimated rate of gro-wth 1964-1970 3.6 percent per year Estimated price increa.se 1964-1970 ca.. 2-3 percent per year Structure of GDP 1964 and 1970 (percentage) 1964 1970 1964 1970 Origin Uses Primary sector 48 44 Consumption 100 101 of whi h.: n-v riiltirrP 29 27 __r .r d-nmT-'ti G livestock 11 11 investment 11 8 SecondnnAr ctor 1 21 Exports 8 E of which: industry - - Less imports 16 17 Tertiary sector 37 35 _of dwk>: ad9m; - ist +v3+i rO n 100 100 100 100 1/ 1970 estimate in 1968 constant prices. 2/ Mission estimates. 3/ US$ 64 at a rate of exchange $1.00 = CFAF 255.79 (after revaluation in -nic u .i.*7 1 L)   -2- Government Finance (CFAF billion) Preliminary Actuals a.ctuals Budgets 1966 1967 1968 1969 1970 1971 1972 Current revenue 8.10 7.82 8.36 9.74 104.9 10.52 10.83 f liur- ex; nn.........._ 7 f)n ....7 'n A eQ Q An p nr n Coe in Qz 'JU.L.L- Ak^DJLwL