The year 2024 was marked in Africa by a nuanced but generally positive economic assessment within the West African Economic and Monetary Union (UEMOA).
The year 2024 will have been marked by a stabilisation of the global economy, with a growth rate of 3.2 percent, similar to that of 2023.
However, this encouraging picture is overshadowed by the persistence of geopolitical tensions and growing trade frictions.
The West African Economic and Monetary Union (WAEMU) stood out with robust growth of 6.2 percent, up from 5.3 percent in 2023. This remarkable performance is mainly based on dynamic agriculture, a high-performance extractive sector and a significant acceleration in oil and gas production, explained Jean Claude Kassi Brou.
The Governor of the Central Bank of West African States (BCEAO) spoke on Wednesday, March 5 in Dakar during the first meeting of the Monetary Policy Committee of the regional financial institution.
Controlling inflation is the other positive point highlighted by Mr. Brou. After a slight increase in the second half of the year, the average rate stood at 3.5 percent in 2024, compared to 3.7 percent in
2023, he said. This stability is the result of the fall in global food and energy costs and good harvests for the 2024-2025 food crop year, the Governor said.
While bank financing of the private economy increased by 6.3 percent and the external accounts situation improved, areas of uncertainty remain. Geopolitical and commercial tensions could potentially slow down this positive momentum, Mr. Brou concluded.
ARD/te/Sf/fss/as/APA