Ouagadougou: The Burkinabe Prime Minister, Rimtalba Jean Emmanuel Ouedraogo, has advocated for a decisive break from the "neoliberal" economic model, urging the state to reclaim control over the country's development mechanisms to ensure national sovereignty. In his annual address to Parliament on the state of the nation, he delivered a critical evaluation of the economic policies pursued over the past four decades.

According to Burkina Information Agency, Ouedraogo argued that the "neoliberal rhetoric" has "enslaved" Burkina Faso by promoting the notion that the state should refrain from participating in the production of goods and services. He criticized the past implementation of "devastating methods" that led to the privatization of public enterprises, the removal of subsidies, and budgetary austerity measures that have "dismantled the public productive sector." These policies, often influenced by international financial institutions, are now regarded as outdated by the country's leadership.

Ouedraogo emphasized that the state must now fully embrace its "sovereign role" by taking direct control over strategic development sectors. He expressed confidence in achieving this goal in collaboration with the citizens of Burkina Faso, framing it as part of a broader pursuit of economic independence from foreign models.

Despite the ongoing security crisis, the Prime Minister sought to reassure the public about the stability of the national economy. He asserted that the economy remains "solid and resilient," capable of withstanding both "external shocks" and internal challenges.

This announcement comes as Burkina Faso, along with its partners in the Alliance of Sahel States (AES), is actively pursuing initiatives to nationalize certain sectors of its economy and enhance the local processing of raw materials.