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UPDATE 1-Mali proposes 2017 public spending rise of more than 10 pct
September 29, 2016 / 10:56 AM / a year ago

UPDATE 1-Mali proposes 2017 public spending rise of more than 10 pct

(Adds budget details, quote)

BAMAKO, Sept 29 (Reuters) - Mali’s finance minister has proposed a 2017 budget that will see spending increase by more than 10 percent with a heavy emphasis on investment spending and security, he said on Thursday.

The West African nation expects gross domestic product to grow by 5.4 percent this year and 5.3 percent in 2017, Boubou Cisse said on state radio, as activity in its agricultural sector picks up.

“The 2017 budget contains revenues of 2,013 billion CFA francs ($3.44 billion) and 2,270 billion CFA francs in terms of spending,” he said.

Cisse said the government planned to ask donors for help bridging the 257 billion CFA franc deficit - Mali’s usual mode of funding that gap - and would also look to borrow from capital markets.

The budget, presented to the prime minister on Wednesday, was approved by the International Monetary Fund, which has warned that Mali still faces risks from simmering conflict in the north.

Islamist groups, some with links to al Qaeda, seized northern Mali in 2012 only to be driven back by a French-led military intervention a year later. However, the area has seen a resurgence of violence this year. ($1 = 584.8400 CFA francs) (Reporting by Tiemoko Diallo; Writing by Joe Bavier; Editing by Emma Farge and Louise Ireland)

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