The government first blamed falling bauxite and aluminum prices as well as the wars in neighboring Liberia and Sierra pushing hundred of thousands of refugees in Guinea for unbudgeted cost escalations. The poor economic and financial situation in Mali in 1999 stems both from macro-economic difficulties and the effects of world prices. Thus, Mali's balance of payments deficit reached CFAF 33.7 billion in 1999 compared with CFAf 36.9 billion in 1998. The slowing down of economic activity is due to the drop in prices of raw materials, most notably cotton as well as the increase in the price of petroleum products. The provision of adequate and uninterrupted electricity is a major priority, keeping the presidential promise that electricity will be stable by the end of next year.
Telecommunications also get much attention.
The president confirms that the budget will be presented to the National Assembly in mid November. He described the proposed 2001 budget as significant in that it will see his administration into its mid term. As part of the priorities of the budget, the president said a road would be constructed to link Port Harcourt to Bonny linking four local governments. According to the president, the bill is aimed at encouraging tighter financial management, tougher anti-corruption plans, high capital utilisation and better overseas exports. We are not going to touch that.