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Economic performance: Uemoa is doing better than CEMAC

29/10/2021
Categories: Economy/Forex

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The report on the franc zone published by the Banque de France on October 27, 2021, quoted by Jeune Afrique shows that the countries of West Africa are better placed than those of Central Africa in economic recovery. The gap is widening between the two regions.

The Banque de France's latest report on the franc zone addresses the performance of the Economic and Monetary Commission of Central Africa (Cemac) and the West African Economic and Monetary Union (UEMOA) in 2020. The report highlights that if Comoros and UEMOA maintained a positive growth rate (0.2% and 1.5% respectively), Cemac tipped into recession (-1.7%). While the economic outlook for 2021 remains uncertain, the report estimates that the general trend should be towards recovery, subject to an improvement in sanitary conditions. The Central Bank of West African States (BCEAO) expects GDP growth of 5.6% in WAEMU, while the Bank of Central African States (BEAC) anticipates a slight rebound in growth in CEMAC, to 1.3% (a rate, however, much lower than that of population growth).

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