Burkina raises over $219m to fight insurgency --[Reported by Umva mag]

The transition authorities established, in December 2022, the Patriotic Support Fund (FSP) which recently raised nearly $220 million to fund the fight against insurgents.

From January 1 to September 22, 2024, the government mobilised more than 130 billion CFA francs (approximately $219.3 million) on behalf of the Patriotic Support Fund (FSP), reported the Minister of Economy, Dr. Aboubakar Nacanabo, during the 3rd ordinary session of the year 2024 of the FSP Orientation Council.

“The amount of collections from all sources as of September 22, 2024 amounts to approximately $219.5 million,” the minister indicated. This amount represents 130.11 percent of the annual recovery target set at 100 billion CFA francs (approximately $169.4 million).

In terms of collections, approximately $111.2 million come from tax deductions, $19.1 million from telephony/TV, $15.2 million from levies on imported products, $1.7 million from voluntary transfers, $32.9 million from compulsory deductions on public salaries, $4.4 million from private salaries, $20.9 million from the Mining Development Fund and $4.4 million from voluntary contributions.

According to Minister Nacanabo, this sum allows the government to effectively cover the operating expenses of the Volunteers for the Defense of the Motherland (VDPs) and the acquisition of equipment for the benefit of all combat forces.

“The good trend in the collection of resources for the Fund further reinforces our choice of this instrument and further strengthens our motivation to continue the position taken for the liberation of Burkina Faso through the mobilisation and commitment of its sons and daughters,” he said.

The FSP was initiated by the authorities to finance the expenses of the VDPs.

DS/ac/Sf/fss/as/APA

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