Mali’s bold economic roadmap targets 6.5% growth by 2029

The Malian government has unveiled an ambitious economic growth strategy for the next three years, aiming to transform the country’s structural challenges into sustainable development opportunities. This initiative, discussed during a recent Council of Ministers meeting, outlines a real economic growth target of 6.5% annually between 2027 and 2029.

The newly adopted Multi-Year Budget and Economic Programming Document (DPBEP) 2027-2029 serves as the foundation for this vision, focusing on three critical pillars: security stabilization, continued structural reforms, and enhanced public revenue mobilization.

Securing growth through stability and reform

The government’s strategy hinges on progressive improvements in national security, which has been a key constraint on economic performance in recent years. Alongside this, ongoing public sector reforms aim to streamline governance, reduce inefficiencies, and foster a more business-friendly environment. A sustained effort to increase tax collection is also central to the plan, with the tax-to-GDP ratio projected to rise from 13.9% in 2027 to 15.1% by 2029, averaging 14.6% over the period.

Aligned with long-term national and regional visions

This economic roadmap is fully integrated into Mali’s long-term development blueprint, « Mali Kura ɲɛtaasira ka bɛn san 2063 ma », and the National Strategy for Emergence and Sustainable Development 2024-2033. These frameworks emphasize inclusive growth, job creation, and structural transformation to reduce poverty and enhance resilience against external shocks.

The implementation of this strategy requires an estimated average annual budget of 4,382.9 billion FCFA—equivalent to nearly 7.7 billion USD—to fund priority sectors including infrastructure, education, health, and security.

Economic rebound driven by gold and lithium

Following a period of slower growth in 2025—estimated at 4.9% due to lower gold output and fuel supply disruptions caused by security incidents—the economy is now rebounding. The gold and lithium sectors are expected to play a pivotal role, with rising global prices generating additional state revenue.

According to official projections, gold and lithium price increases could significantly boost government income, while the restoration of fuel supplies, strengthened security measures, and the resolution of mining disputes will further support growth starting in 2026.

Budget 2026: balancing ambition and fiscal discipline

The 2026 draft Finance Bill sets total revenue at 3,057.8 billion FCFA, with the budget deficit projected to remain within the 3% of GDP limit imposed by UEMOA. This balance is achievable through tighter public spending controls and more efficient tax collection mechanisms.

International financial institutions, including the International Monetary Fund (IMF), have welcomed the outlook, forecasting GDP growth of 5.7% in 2027 and highlighting the positive spillover effects of improved security and policy reforms.

The government remains confident that by maintaining fiscal discipline, accelerating reforms, and leveraging key mineral resources, Mali is poised to achieve robust and inclusive economic growth in the coming years.