The President of the Council Sani YAYA welcomes an encouraging recovery in economic growth in the last quarter of 2020 and magnifies the actions taken by the Eu Institutions to mitigate the adverse effects of the covid-19 pandemic.

Start on December 10, 2020 by videoconference of the work of the ordinary session of the Statutory Council of Ministers of the West African Economic and Monetary Union (WAEMU). In his opening remarks, the President of the Council of Ministers Sani YAYA, also Minister in charge of Economy and Finance of Togo, recalled that the year that is coming to an end has been particularly trying for the populations and economies of the Union.

The covid-19 health pandemic has "had harmful social and economic consequences", he will say.
He praised the Institutions of the Union, in particular, the WAEMU Commission, the BCEAO, the BOAD and the CREPMF which have been able to react effectively with measures that have made it possible to mitigate these consequences on the lives of populations and economies.

A glimmer of hope with a resumption of growth...

According to Sani YAYA, after a decline in the Union's Gross Domestic Product (GDP) of 2% in the second quarter of 2020, hope is possible with a resumption of activities in the third quarter with a growth rate of 0.6% thanks, among other things, to public policies put in place by States. And the latest forecasts "show GDP growth of 0.9% for the year 2020".

Several dossiers are submitted to the Ministers by the Institutions of the Community area...

Under the WAEMU Commission, several items will be examined, including the draft budget of the Union's Bodies for the 2021 financial year, the half-yearly draft implementation of multilateral surveillance, as well as the draft Regulation on the WAEMU Community Mining Code.

The President of the WAEMU Commission Abdallah BOUREIMA took part in the meeting, from the National Agency of the BCEAO in Ouagadougou in the company of the Presidents of the Courts of Justice and Accounts of the Union as well as the WAEMU Commissioners in charge of Administrative and Financial Services and the One in charge of Economic Policies and Internal Taxation.