Mali Forecasts GDP Growth at 5.3%

Mali is forecasting 2017 GDP growth of 5.3% due to expectations of a strong grain and cotton harvest and gold production, Diakaridia Dembele, technical adviser at the finance ministry said on Saturday, Reuters reported. This compares with an estimated GDP growth of 5.4% last year in the West African country. Agricultural output will rise due to subsidies and increased mechanization, while two gold mines should open this year, Dembele said. These are the Fekola mine operated by Canadian company B2Gold and Yanfolila operated by British company Hummingbird Resources. Gold and cotton are mainstays of Mali’s economy.