One of the poorest countries in the world, Mali scores below world normal in terms of economic strength. The country has one of the lowest remuneration rates in the world, with an average yearly income for an employed individual being $1,500. Through 20 years, Mali has enhanced in terms of budgetary flexibility especially in key areas such as fiscal opportunity, business opportunity and property rights. The key factor that is blamed for the stagnation of investment opportunities in the country is the institutional shortcomings.
Mali’s government however supports foreign contribution to the economy and advocates for the privatization of some enterprises. Apart from the food crisis that has marred the country since 2011, continued revolts in the country have also led to the reduction in GDP in recent years. Limited worldwide cooperation fueled by the retreat of help also resulted in the increase in severity of the country’s problems. As such, the Malian government sought a strategy help train to boost the economy.
Insecurity, food shortage and insecurity have also been escalated by the political turbulence in Mali. The social pointers to poverty have enhanced through the years. Marks made in the achievement of 2015 Millennium Development Goals in the sector of health were retracted when the Islamist militia in the Northern parts of the country plundered medical ecological supplies, schools and other social amenities.
Eco logical supportability and provision of clean drinking water to the populace are still under plans for improvement (Dewbre et al. 201). In order to achieve the Millennium Development Goals, the country will have to leave out alternative objectives. Mali’s key natural resources include cotton, gold and agribusiness among other resources. The gold contributes about 25 percent of the GDP while cotton contributes 1 percent.
Mali: Poverty Reduction Strategy Paper. Washington, D.C: International Monetary Fund, 2013.
Dewbre, Joe, and de B. A. Borot. Agricultural Progress in Cameroon, Ghana and Mali: Why It
Happened and How to Sustain It. Paris, France: OECD, 2008. Internet resource.
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