The statement from the first ordinary session of the Council of Ministers of the West African Economic and Monetary Union (UEMOA) revealed that the economic growth rate of the area stands at 0.9% in 2020.

The Union's economic growth rate is estimated at 0.9% in 2020, while the inflation rate stood at 2.1%.
Under the presidency of Sani YAYA, Minister of Economy and Finance of the Togolese Republic, its statutory president, the Council of Ministers of the Union examined the recent economic situation and the prospects for UEMOA.
The start of a consolidation of the recovery in economic activity in the fourth quarter of 2020 was noted, under the effect of the renewed vigor of domestic demand.
Thus, the council indicates that the growth rate of the Union stood at 1.3% after 0.6% a quarter earlier. For the whole of 2020, the WAEMU growth rate is estimated at 0.9%.
The press release also reports that for the whole of 2020, the inflation rate stood at 2.1% after -0.7% in 2019. Inflation in the Union slowed slightly, standing at 2.7% in the fourth quarter of 2020, year-on-year, after 2.9% in the previous quarter.