ECOWAS Experts Agree on Modalities for the Execution Regional Economic Outlook

By News Desk 

June 1, 2023

Le Panel Lors De La Cérémonie De Clôture

Economic experts from Member States of the Economic Community of West African States (ECOWAS) and from the ECOWAS Commission’s Directorate of Research and Statistics, had on Friday 27th May 2023 wrapped up the regional workshop on the preparation of country reports and chapter 3 of the ECOWAS regional economic outlook.

For five days, the experts presented reports on the fifteen Member States providing an overview of each country’s economic situation, socio-economic profile including population, culture, unemployment rate and so on. They also presented key information on the macroeconomic performance of each country: an analysis of the inflation rate, real GDP growth, budget policy orientation including budget deficit, convergence criteria, and the peace, security, and stability situation in the respective countries.

At the end of the meeting, the experts agreed on key points and indicators to be couched in the country reports and adopted a timetable for the drafting of the annual report on ECOWAS regional economic outlook.

In his closing remarks, Prof Felix Fofana N’Zue, Principal Programme Officer, Research, Knowledge Management and Economic Policy Analysis recalled that the main objective of the meeting was to produce a thorough economic analysis of pressing economic matters in the region and a country by country analysis on the theme: “Peace, Security, Stability and Economic Performance in the ECOWAS region”: How do we actualise ECOWAS Vision 2050 despite the security challenges?”

“After five days of intense work, we have paved the way to prepare the ECOWAS regional economic outlook. We have agreed on the minimum content of chapter 3 and the respective country reports” stated Prof N’Zue. He thanked the experts for the quality presentations made and urged them to comply with the drafting guidelines for the different reports and to devote enough time to produce quality documents. Such quality would determine a continuance in line with the directives of the 32nd Ordinary Session of the Administration and Finance Committee of ECOWAS.