On December 17, 2021, the Council of Ministers of the West African Monetary Union (UMOA), during its fourth ordinary session, noted that the prospects for economic growth in the Union remain favorable. Growth should stand at 6.4% in 2022 after 6.1% in 2021.

The Union's performance is the result of the continued implementation of Member States' recovery plans as well as the return to normal activity in the transport, tourism and leisure sub-sectors, the mitigation of the health crisis due to Covid-19. The council noted that the growth rate of real gross domestic product (GDP) stood at 6.7%, year-on-year, after 7.7% the previous quarter, and an achievement of 1.4% a year earlier. . This good trend was supported by a gradual strengthening of domestic demand.

The Ministers noted, like in other regions of the world, an acceleration of prices in the zone. The inflation rate stood at 3.8% in the third quarter of 2021, after 3.3% a quarter earlier. The Council of Ministers also highlighted the widening of the overall public deficit, on a commitment basis, including grants, which stood at 4,492.8 billion at the end of September 2021 against 4,388.4 billion a year earlier.