Mali Economic Forecast
For all international countries, Mali is considered one of the poorest per capita GDP (Gross Domestic Product). For this country, approximately 65% of the land is desert or semi-desert, which includes serious issues with unequal income distribution. Because Mali has few natural resources and the climate is not pristine for growing most crops, the majority of the economy depends on sectors around the Riverine area, which is irrigated by the Niger River.
For all international countries, Mali is considered one of the poorest per capita GDP (Gross Domestic Product). For this country, approximately 65% of the land is desert or semi-desert, which includes serious issues with unequal income distribution. Because Mali has few natural resources and the climate is not pristine for growing most crops, the majority of the economy depends on sectors around the Riverine area, which is irrigated by the Niger River. Today, some 10% of the population is nomadic while about 80% works in the fishing and farming sector, although some industrial work is available. To survive the harsh economy of Mali, the country is reliant on foreign aid. Because of this, Mali is at risk anytime world prices fluctuate, specifically for the main crops of cotton, as well as gold. Mali’s government pushed to implement the structural adjustment program recommended by the International Monetary Fund or IMF and as a result, the economy has experienced some growth, as well as diversification. In fact, because of the efforts made by this country’s government to boost the economy, more Foreign Direct Investment has been attracted.
Mali GDP Forecast
While extremely poor and underdeveloped, Mali has not given up hope on building a stronger and more stable economy. One measure was taken in 1993 whereby reforms associated with the IMF and World Bank would help liberalize trade policies, attract more foreign investors, and open up the private economy. In looking at the Mali GDP (Gross Domestic Product, Current Prices, US Dollar) for 2008, numbers were at $8.76 billion in US dollars and by 2009, $8.965 billion that positioned Mali at number 123 for world rankings. The GDP numbers expected for 2010 should hit around $9.54 billion and while changes for 2015 are not huge, some change is being predicted whereby the GDP would close at $13.58 billion in United States currency.
Mali Unemployment Forecast
Estimates for the Mali population were last reported at the end of 2009, being 14.5 million. With a small land mass and a densely populated country, it is no wonder Mali has high levels of poverty, as well as unemployment. In fact, the Mali unemployment rate is currently more than 30%. Because of this, more than 50% of people in Mali live below the line of poverty. For this reason, new policies and reforms are being implemented to help balance out the numbers.
Mali Inflation Rate Forecast
For the Mali inflation rate, in 2008 the numbers were reported at $8.76 billion (US currency). From that time to the end of 2009, an insignificant increase occurred, putting the new numbers at $8.965 billion at which time the country was in the number 123 position for rankings worldwide. Using national currency and exchange rate projections, experts predict that the inflation rate for 2010 will be markedly unchanged at $0.54 billion. Although not significant, a slightly greater change will occur from 2010 to 2015, closing numbers at $13.58 billion in US dollars.
Mali Current Account Balance Forecast
Regarding the Mali current account balance, the 2008 number of a negative $0.70 billion and 2009 of negative $0.868 billion, both in US dollars, were determined using classifications of goods, services, income, and current transfers (excluding capital and financial items). For year-end 2009, the country of Mali was ranked at number 117. Now, using this same data, 2010 is expected to be around a negative $0.89 billion whereas 2015 is predicted to reach negative $1.238 billion.