WAEMU economies expected to grow at 5.6% in Q4 2022

Monday, 03 October 2022 15:08
WAEMU economies expected to grow at 5.6% in Q4 2022

(Togo First) - The West African Economic and Monetary Union (WAEMU) could record an economic growth rate of 5.6% this quarter. This is slightly above the rate forecast for Q3, according to Togo’s minister of finance, Sani Yaya, who disclosed the figure last Friday in Dakar, during the latest council of the WAEMU. 

The improvement, the official noted, is attributable to the resilience of WAEMU States against global inflation and the Ukraine crisis, which make it difficult for the Union’s eight members to get needed supplies – food and agricultural input especially.

"The context of international tension induces strong inflationary trends with a year-on-year inflation rate of 5.9% in July 2022," said Sani Yaya.

The Togolese minister lauded "the significant efforts made by the Member States to alleviate the suffering of the population in the face of soaring prices." 

Besides economic struggles, the council gathered in the Senegalese capital discussed the security threat facing the region.

Esaïe Edoh 

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