ECOWAS, a community of 15 West African states including Nigeria, Ivory Coast and Ghana, projects an economic recovery in 2021 with a projected GDP increase of 3.5%. Announcement made this weekend by the heads of state of the region who gathered in Accra (Ghana).
“After negative growth of 0.8% in 2020 linked to the negative effects of Covid-19, the Conference of Heads of State welcomes the recovery announced in 2021 with a projected GDP increase of 3.5% in 2021. It urges member states to speed up the implementation of economic recovery programs and projects to support the ongoing recovery, ”said the final statement from the meeting.
“The Conference notes the need to implement a major financing plan for the economies of the Region in order to support the recovery. In this sense, it welcomes the various initiatives underway, in particular the Paris Summit for the financing of African economies, as well as the initiatives of the G20 relating to the restructuring of the debts of developing countries, ”the document continues.
In 2019, economic growth in the region reached 3.3% before the onset of the pandemic.
