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June 25, 2024

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WAEMU: GDP growth of 6.5% expected thanks to extractive and manufacturing production –

On March 28th, 2024, the first regular session of the Union of Economic and Monetary West African States (UEMOA) Council of Ministers was held under the presidency of Adama Coulibaly, the UEMOA Council President and Minister of Economy and Finance of Côte d’Ivoire. During this meeting, the UEMOA ministers will discuss 10 essential points, including the economic and monetary situation of UEMOA. They will also examine the report on the economic and monetary situation of UEMOA during the year of 2023, presented by the Central Bank of West African States (BCEAO).According to the BCEAO’s projections, the UEMOA’s GDP is expected to reach a peak of 6.5%, thanks to the good performance of extractive and manufacturing industries. “We acknowledge the positive results and prospects in our region and renew our congratulations to the UEMOA authorities, BCEAO, BOAD, and AMF-UEMOA for their efforts to optimize the strategies implemented for the development of our economies,” stated Adama Coulibaly.The schedule for this first session includes discussions on several important points, such as the examination of the BOAD’s annual accounts for 2023, the budget project of the Agency for the Modernization of Elementary Education (AMEF-UMOA) for the year 2024, and the fight against money laundering and financing of terrorism. They will also review the draft decisions related to the designation of the UEMOA member states’ representatives in the boards of directors of the Regional Stock Exchange and the Central Bank custodian.In conclusion, this first session of the UEMOA Council of Ministers focused on various crucial topics to ensure the economic and monetary stability of the region. The positive results and projections presented by the BCEAO demonstrate the efforts and dedication of all involved parties towards the development of the UEMOA economies
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