A press release issued on Monday, April 3, 2023 mentions that the West African Monetary Union (UEMOA) will experience a combined economic growth of 7% in 2024 compared with 6.5% expected in 2023.

The Union held its Council of Ministers last Friday in Dakar at the headquarters of the Central Bank of West African States (BCEAO). The organization brings together Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. According to Financial Afrik, the agenda included the 2022 balance sheet and the economic outlook. Indeed, economic activity in the WAEMU was 5.4% in the last quarter of 2022 after 5.7% in the previous quarter. Over the last three months last year, inflation stood at 7.8% compared with 8.4% between July and September. The current account deficit was 7.7% of GDP after 5.6% in 2020, and the budget deficit widened to 6.4% of GDP at the end of 2022 from 5.4% at the end of 2021.