Facts about Mali

Mali is regarded as a poor country. The economy has grown by a meager 5% in the last ten years. Facts about Mali show that illiteracy, improper and insufficient infrastructure, deforestation, desertification, lack of an efficient judiciary, are some of the problems faced by Mali.

Facts about Mali's business environment:

Business firms face immense difficulties in operating smoothly in Mali owing to inconsistent regulations. The bureaucratic set up in Mali is highly ineffective and does not contribute much towards growth in the commercial sector in Mali. Adding to this is the political intervention, the commercial sector is subjected to.

Tax Structure of Mali:

Tax rates are very high in Mali. Studies conducted in early 2007, indicate that total tax revenue was 15.7%.

Restrictions in imports, faltering custom duties, limitations in import licenses, taxes for import etc., make the trading costs very high. 100% ownership in any new business, of a foreigner is permitted by the Government. The government in Mali envisages that any resident intending to retain foreign exchange banking accounts can do so with prior permission from the concerned authorities.

Corruption in Mali:

Corruption is rampant in Mali. The Transparency International Corruption Perceptions Index, 2006 has ranked Mali in the 101th position . The judiciary in Mali manifests corruption and inefficiency. Bribes and influencing witnesses in court is a common practice in Mali.

Trade in Mali:

Main products of export are salt, rum, fruits, products of mineral, vegetables, chemicals.

Mali imports transportation equipments, chemicals, food, fuels, live animals and machinery.