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WAEMU: declining growth and rising inflation (report)

19/06/2020
Source : ouestaf.com
Categories: General Information
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Economic growth in the West African Economic and Monetary Union (UEMOA) is expected to fall by almost half for the year 2020 and stand at 2.7% against an initial forecast of 6.6%, indicates a report by the Union published this month of June.

This drop in forecasts is due to a "slowdown in economic activity, with consequences for business activity and consequently on the tax revenues of the States" of the economic union, due to the not insignificant impact of the Covid-19 pandemic, explains Uemoa in its report.

The West African Economic and Monetary Union also announces an increase in inflation which should settle in the zone at 2.5% instead of 1.1% initially forecast.

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