- The monetary situation is characterized by an increase in the money supply supported by the growth of domestic claims;
- A greater financing of the economy.
Sources: MEPD; BCEAO
Evolution of certain monetary aggregates (In billions of FCFA)
| Designation | 2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 (est.) |
2024 (proj.) |
| MONEY SUPPLY (1) | 7,852.9 |
8,574.9 |
9,723.7 |
10,770.1 |
13,042.6 |
15,487.4 |
16,878.6 |
17,440.1 |
19,023.7 |
| NET EXTERNAL ASSETS | 1,714.62 |
1,762.74 |
2,032.05 |
2,497.5 |
3,139.74 |
4,206.32 |
3,886.00 |
2,634.3 |
2,263.1 |
| DOMESTIC CLAIMS | 7,271.68 |
8,290.71 |
9,336.61 |
10,236.24 |
12,040.44 |
13,761.82 |
15,705.92 |
17,667.6 |
20,360.6 |
| NET CLAIMS ON THE CENTRAL ADMINISTRATION | 1,775.43 |
1,981.10 |
2,318.26 |
2,791.76 |
3,908.77 |
4,614.61 |
5,891.45 |
6,261.9 |
7,340.8 |
| CLAIMS ON THE ECONOMY | 5,496.25 |
6,309.61 |
7,018.35 |
7,444.48 |
8,131.68 |
9,147.21 |
9,814.47 |
11,405.7 |
13,019.8 |
| NON-MONETARY LIABILITIES | 1,090.36 |
1,372.28 |
1,463.4 |
1,659.5 |
1,957.3 |
2,404.0 |
2,772.3 |
3,130.2 |
3,500 |
| OTHER NET ITEMS | 30.9 |
106.3 |
181.6 |
304.0 |
180.3 |
76.7 |
-59.0 |
-268.4 |
100.0 |
(1) Money Supply (Total of counterparts) = Net external assets + Domestic claims - Non-monetary liabilities - Other net items.
Sources: MEPD; BCEAO
The monetary situation is characterized by a continuous increase in the money supply, reflecting greater financing of the economy.
By the end of 2023, monetary statistics show a 3.3% increase in the money supply, reaching 17,440.1 billion FCFA due to the rise in domestic claims, despite a decrease in net external assets of 1,251.7 billion (-32.2%).
Domestic claims (+1,961.7 billion; +12.5%) increased due to the rise in claims on the economy (+1,591.2 billion; +16.2%), resulting from the dynamism of economic activity and the strengthening of credit access measures. Additionally, net claims on the central administration recorded an increase of 370.4 billion, or 6.3%.
By the end of 2024, the money supply is expected to grow by 13.2% (+2,294.1 billion) due to increases in both net external assets (+17.1%) and domestic claims (+14.8%).
The increase in domestic claims would be attributable to both net claims on the central administration (+18.1%) and claims on the economy (+12.9%).
In total, claims on the economy would rise from 22.7% of GDP in 2021 to 24.6% of GDP in 2024.