The economic outlook in the UEMOA region remains favorable. The Central Bank of West African States (Bceao) expects growth of 6.3% in 2025.
The Council of Ministers of the West African Economic and Monetary Union (WAEMU) held, on December 20, 2024, its fourth ordinary session for the year 2024 in the premises of the main Bceao agency in Bamako. According to a press release from the banking institution received yesterday, this meeting was an opportunity for the Council to discuss the economic prospects of the Union.
Thus, in 2025, the Union’s economic prospects remain generally favorable. According to the latest forecasts from the Bceao, the growth rate of the Union’s GDP, in real terms, would be 6.3%. This acceleration would be driven in particular by the good performance of agricultural, extractive and manufacturing production, as well as commercial and financial activities. As for the year 2024, the Council of Ministers welcomed the continued strength of economic activity during the year 2024. Indeed, the latest estimates of the Union’s GDP highlight an acceleration in the rate of growth of economic activity in 2024, with growth of 6.0% after 5.3% in 2023.
With regard to texts and legislation, the Council of Ministers adopted the Report relating to the economic and monetary situation of UEMOA as of September 30, 2024 and the Macroeconomic Framework of UEMOA for the years 2024 to 2029. The Council also examined and adopted the draft Decision relating to the designation of representatives of States within the Board of Directors of the Deposit Guarantee and Resolution Fund in Umoa (Fgdr-Umoa). The ministers also adopted the draft Regulation relating to the external financial relations of the Member States of the Union.
-This new text, which replaces the Regulation of October 1, 2010 on the same subject, marks a significant step forward in the modernization of the regulatory framework. The UEMOA budget estimated at 149.6 billion FCFA It integrates recent changes in the global economic environment and ensures better adaptability of policies to new economic and financial challenges. Regarding the West African Development Bank (Boad), the Board approved the updated financial outlook 2025-2029 of the Bank; the note relating to the lifting of the immunities and privileges of Boad as part of the establishment of a fifth line of credit from KfW in favor of the Bank and intended for the financing of micro, small and medium-sized enterprises as well as that relating to the lifting of the immunities and privileges of the Boad for the granting to the Bank of joint assistance from the Japanese International Cooperation Agency (Jica) and a consortium of commercial banks.
Concerning the UEMOA Commission, the Council of Ministers ratified the collective budget authorized by the UEMOA budget regulation for the 2024 financial year. Thus, the budget of the organs of the Union, under the The 2025 financial year amounts to CFAF 149.6 billion in revenue and expenditure compared to forecasts in the initial 2024 budget of CFAF 142.0 billion, an increase of 5.3%. This budget takes into account the start-up activities for the implementation of the Commission’s new Strategic Plan called “Impact 2030” and essentially aims to increase the performance of the UEMOA Commission and the impact of its interventions on the populations of the Member States.
Demba DIENG
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