The Union's 2022 - 2026 macroeconomic framework note prepared by the UEMOA Commission mentions that, the growth of the eight countries of the West African Monetary Union (WAEMU) should remain robust from 2023 to 2026, if the risks of a downward correction remain high taking into account the uncertain global economic and geopolitical situation, but also in the West African region, especially in the Sahel, and the security situation.

UEMOA growth is expected to weaken to 5.5% in 2022 after the post-covid recovery in 2021, compared with 6.1% the previous year, but to rebound in 2023 to 6.8%. This growth is driven in part by the implementation of oil and gas projects in Niger, with growth rising to 12.1%, and in Senegal (+7.2%). Growth is expected to reach 6.1% with a contribution from all business sectors on average over the period 2024-2026.

Because of the high uncertainty about agricultural production, which is more affected by climate change, the contribution of the primary sector to the growth of the Union would remain fairly stable. For its part, the secondary sector would draw its dynamism from oil production in Senegal and Niger and from the construction industry. As for the tertiary sector, it would remain strong under the impetus of trade and transport.