For this year, economic growth within the West African Economic and Monetary Union (WAEMU) should stand at 6.3% compared to 6.0% in 2024, announces the Bceao.
The Council of Ministers of the West African Economic and Monetary Union (UEMOA) held its fourth ordinary session of the year 2024 on December 20 in Bamako.
At the end of this meeting, the region’s economic prospects for 2025 appear promising, according to a press release received by APA this Thursday.
Ministers welcomed the economic performance recorded in 2024, marked by growth of 6.0% in the Union’s GDP, compared to 5.3% in 2023.
The Council also noted that “ the inflation rate, year-on-year, stood at 4.1% in the third quarter of 2024, a stable level compared to the previous quarter. »
For the year 2025, the Council anticipates an acceleration in the pace of economic growth, with a rate of 6.3%. This dynamic would be driven by “ the good performance of agricultural, extractive and manufacturing production as well as commercial and financial activities “, the press release clarified.
The Council of Ministers adopted several structuring decisions, notably the budget of the Union bodies for the 2025 financial year, estimated at 149.6 billion FCFA, an increase of 5.3% compared to that of 2024.
This budget includes the initial activities of the Impact 2030 Strategic Plan, aimed at “ increase the performance of the UEMOA Commission and the impact of its interventions on the populations of member states. »
As part of regulatory progress, the Council adopted a new regulation on the external financial relations of the Member States of the Union. This text replaces that of 2010 and takes into account “ recent changes in the global economic environment », thus strengthening the adaptability of economic policies to contemporary challenges.
In terms of economic security, the Council approved the adoption of the Harmonized Consumer Price Index (IHPC) base 100 in 2023. This instrument will become, from January 1, 2025, the official reference for measuring inflation in the UEMOA zone.
Furthermore, the Council welcomed the resource mobilization efforts by Member States and urged them to continue this momentum. “ It is essential to strengthen internal and external financing capacities to guarantee the economic and social stability of the Union “, underlined the press release.
The WAEMU Council of Ministers concluded on a note of optimism, reaffirming the commitment of member states to work collectively to maintain the dynamic of economic growth and strengthen resilience in the face of global challenges.
ARD/ac/Sf/APA
