Mr Jean-Claude Kassi BROU takes stock of the development of the economic, monetary and financial situation in the Union

2023-05-03 11:10:42

The President of the Republic, Head of State, HE. Mohamed Bazoum, received in audience, late yesterday morning, the Governor of the Central Bank of West African States (BCEAO), Mr. Jean-Claude Kassi BROU. It was for the Governor of the BCEAO to take stock of the evolution of the economic, monetary and financial situation in the Union to the Head of State, who is also President of the Conference of Heads of State and of the WAEMU Government.

At the end of this audience, the governor of the BCEAO declared having exchanged with the Head of State on the economic situation of the Union. “The situation that we were able to present to the Head of State shows that growth is sustained in our Union”, underlined Mr. Jean-Claude Kassi BROU. He also added that the year 2022 ended with growth of 6%. “The year 2023 is even better and we have achieved growth of 7%,” he said.
Talking about inflation, the Governor of the BCEAO explained that it is a concern for the BCEAO since in 2022, there is high inflation of 7% on average with disparities between countries. This is how some countries have experienced double-digit inflation. However, underlined Mr. Jean-Claude Kassi BROU, in Niger the performances are excellent because inflation is even below 4%.
To contribute to the fall in inflation, Mr. Jean-Claude Kassi BROU underlined that actions have been taken. He mentioned that with the efforts that have been made by the Member States to contain the pressures due to the rise in prices on the purchasing power of the populations and the actions also taken by the Central Bank, inflation is beginning to flex. “In February, we ended the month with inflation down 6%. We expect that in 2023 it should fall further to settle around 5%”, he said while specifying that the Central Bank pays particular attention to these situations. “We have also worked to ensure monetary stability by encouraging investors more because they have confidence in the system,” he said.
The governor of the BCEAO has finally made it known that measures have been taken to ensure that this confidence is maintained. “This is why so many investments are made in practically all countries, guaranteeing the growth necessary for the development of the region”, rejoices the governor of the BCEAO, Mr. Jean-Claude Kassi BROU.

Oumar Issoufou (Onep)

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