Monetary policy
Monetary policy is defined by the Monetary Policy Committee (MPC) of the BCEAO, which includes:
The Governor of the Central Bank,
the Vice-Governors of the Central Bank,
a member proposed by each of the Governments of the member States of the UMOA and appointed by the Council of Ministers,
a member appointed by the State ensuring the guarantee of the convertibility of the common currency,
Budgetary policy
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State budget has significantly increased since 2012.
Balance of payments
- A generally well-managed current account balance, but significantly deteriorated in 2022 and 2023 due to the dynamism of private investments, particularly in the extractive sector.
optical GDP demand
Strong growth recorded during the period 2012-2019 (average of 8.1%).
Good recovery starting in 2021 after a slowdown in 2020 (0.7%) due to COVID-19.
Growth mainly driven by final consumption and investment, with respective contributions of 3.2 and 2.3 percentage points in 2023.
inflation
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Overall inflation contained below the ECOWAS community threshold of a maximum of 5%.