Mali's State budget 2026 and 2027: revenue, spending, deficit and expected growth
Official figures for Mali's State budget: 2026 finance law and supplementary law, 2027 draft finance law (revenue 3,866.6 billion FCFA, spending 4,462.6 billion, deficit 596 billion), 6.5% growth expected for 2027-2029, according to the Council of Ministers statements.
The State budget shows where public money goes, and so where the contracts, priorities and risks lie for an investor. Here are the official figures for 2026 and the draft for 2027, as published in the Council of Ministers statements.
Key points (statements checked on 18 October 2026)
- Draft 2027 budget: 3,866.6 billion FCFA in revenue, 4,462.6 billion in spending, a deficit of 596 billion.
- 2026, as amended: revenue of 3,372.9 billion, spending of 3,993.3 billion, deficit of 620.4 billion.
- The 2027-2029 framework assumes real growth of 6.5% a year on average.
Three budgets in one year
| Initial 2026 finance law | Supplementary 2026 finance law | Draft 2027 finance law | |
|---|---|---|---|
| Revenue | 3,057.792 billion FCFA | 3,372.895 billion FCFA | 3,866.635 billion FCFA |
| Spending | 3,578.217 billion FCFA | 3,993.319 billion FCFA | 4,462.646 billion FCFA |
| Deficit | 520.425 billion FCFA | 620.425 billion FCFA | 596.011 billion FCFA |
The initial 2026 finance law is law no. 2025-056 of 18 December 2025. The 2027 draft, adopted by the Council of Ministers on 18 September 2026, follows the new organic law on finance laws (law no. 2025-038 of 15 August 2025). It forecasts revenue up 14.64% and spending up 11.75% compared with amended 2026, and a deficit down 3.93%.
What changed during 2026
The supplementary finance law, adopted by the Council on 3 July 2026, raised revenue by 10.30%, mainly through:
- higher yield from the ad valorem tax;
- contributions to the mining funds, set up as special Treasury accounts (see our page on the Mining Code).
Spending rose by 11.60%, for three main reasons:
- more funding for securing the national territory;
- an exceptional subsidy to the CMDT, the cotton company (see our page on agriculture and cotton);
- new spending from special Treasury accounts.
The result: a deficit 100 billion FCFA higher than initially planned.
The 2027-2029 outlook
The 2027-2029 multi-year budget and economic programming document, presented to the Council on 10 June 2026, frames the annual budget. It assumes real growth of 6.5% on average over the period and projects the cost of government action at 4,382.9 billion FCFA a year on average.
A concrete example: the Natien cement plant
The statement of 2 September 2026 gives an example of an industrial investment now in production. The Société Ciments de l'Afrique plant at Natien (Sikasso), launched on 9 February 2024, has been producing since 23 March 2026. It required 56 billion FCFA of financing, for a capacity of 1 million tonnes of cement a year, expandable to 3 million, and created 250 direct jobs and about 1,500 indirect jobs at start-up. API-Mali opened a regional office in Sikasso on that occasion.
What it means for an investor
- Public contracts follow the budget: see our page on public procurement thresholds and procedures.
- Taxation remains the main revenue lever: see business taxation and Bamako's local taxes.
- The benefits of the Investment Code are obtained from API-Mali.
- The Mali Kura Forum (11 and 12 December 2026) will present priority projects.
Frequently asked questions
What is Mali's budget for 2027?
The draft 2027 finance law forecasts 3,866.6 billion FCFA in revenue and 4,462.6 billion in spending, a deficit of 596 billion.
What growth does the government expect?
Real growth of 6.5% a year on average over 2027-2029, according to the multi-year programming document.
Why was the 2026 budget amended?
To include extra revenue (ad valorem tax, mining funds) and new spending (security, a subsidy to the CMDT, special Treasury accounts).
Official sources (checked on 18 October 2026)
Council of Ministers statements published by the General Secretariat of the Government (French): 10 June 2026, 3 July 2026, 2 September 2026 and 18 September 2026.