The rate of growth is expected to accelerate in the third quarter of the year in the states of the West African Economic and Monetary Union (UEMOA). Economic activity is expected to grow by 6.0% annually in the third quarter of 2023, after 5.7% in the second quarter of 2023, according to the June 2023 Monthly Economic Note in the UEMOA countries published by the Central Bank of West African States (BCEAO) .Indeed, the economies of the Union are expected to accelerate their recovery, thanks to an expected increase in domestic demand and an increase in domestic demand. continuous improvement in certain sectors such as transport, tourism, hotels and construction

Economic activity would be well oriented across all sectors. Commercial sectors, manufacturing and extractive industries, and market and financial services are expected to accelerate. The business leaders interviewed expect better performances, despite the deterioration of production conditions, in particular the increase in the cost of credit. In total, the primary sector would contribute 1.5% to economic growth in the third quarter, the secondary sector: 0.7% and the tertiary sector: 3.8%, according to BCEAO projections

In addition, the rate of increase in inflation is expected to decelerate, year-on-year, to 3.6% in June 2023 and July 2023, after 4.6% in April and 3.9% in May 2023. The BCEAO combines this evolution with maintaining a good supply of local cereal products to markets. In addition, a downward trend in the prices of food products imported into the Union is expected, in connection with the decline in international prices for foodstuffs such as wheat, oil, milk, rice. Last May, the deceleration in prices of 0.7 percentage points compared to April 2023, is mainly linked to the “Food products” component (3.5%, after 5.1% a month earlier, due in particular to The abundance of local cereal supply), to the “Transport” component (6.9% against 7.5%