La Banque africaine de Development (AfDB) mentioned in its 2023 West African Economic Outlook report that West Africa has experienced a slowdown in growth economic situation over the past year, with the exception of Cabo Verde, the Gambia, Guinea, Mali and Niger

The AfDB report assessed the economic performance of 15 countries in West Africa. These are the Libéria, du Mali, du Niger, du Nigeria, du Sénégal, de la Sierra Leone, du Togo , the B Benin, Burkina Faso, Cabo Verde, Ivory Coast, the Gambia, Ghana, Guinea and Guinea-Bissau. The report presents the main economic trends in 2022 and medium-term economic forecasts (2023-2024) for the region. The report notes that the average gross domestic product in West Africa has slowed from 4.4% in 2021 to 3.8% in 2022. Thus, the recovery of growth after the 2020 slowdown has slowed down.

The slowdown in growth is attributed to successive shocks such as the resurgence of Covid-19 in China, a major trading partner of countries in the region. Also, the report mentions that the region's GDP growth prospects are positive and are expected to increase slightly to 3.9% in 2023 and 4.2%