On Sunday, March 24, 2024, was held during the work of the 53rd ordinary session of the Inter-Parliamentary Committee of the West African Economic and Monetary Union (CIP- UEMOA ) which is continuing, the presentation of the 2023 annual report on the functioning and evolution of the Union.

The activities of the 53rd ordinary session of the CIP- UEMOA started since the March 18, 2024, in Lomé and will end on the 27th of the same month. According to the 2023 annual report presented, the Union's activities took place in an environment where economic growth was 5.7%, as in 2022, in line with the good performance of all business sectors in a context of falling prices. The average annual inflation rate in 2023 was 3.7%, compared to 7.4% in 2022. In terms of public finances, the overall budget deficit represented 5.3% of GDP against 6.7% in 2022, due to the increase in public revenue that was greater than that in expenditure. The debt ratio stood at 59.5% in 2023, against 57.6% in 2022, an increase of 1.9 percentage

With regard to foreign trade, the overall balance of payments improved, in line with the reduction of the current account deficit, moderated by the fall in financial account capital inflows, to -2.5% of GDP, compared to -3.0% in 2022. As for reserves, they covered 3.5 months of imports of goods and services in 2023.