L'environnement économique international a été marqué
en 2008 par :
un ralentissement généralisé qui affecte depuis
le quatrième trimestre, tant les pays développés que
les pays émergents. Les dernières estimations
du Fond Monétaire International (FMI) situent le taux
d'expansion de l'économie à 3,7 % en 2008 après
qu'il ait atteint 5 % en 2007 ;
aux États-Unis,
l'éclatement de la bulle immobilière
a entraîné une forte augmentation des impayés et des
saisies des biens hypothéqués. L'activité économique
s'est contractée. Le taux de progression du Produit Intérieur
Brut (PIB) en termes réels se situerait à 1,4 % contre 2 %
en 2007. Malgré les énormes injections de liquidités
le PIB a chuté à un rythme annuel de 2,8 % avec une
inflation au-dessus de 5 % et un déficit budgétaire qui
avoisinerait 1 000 milliards de dollars US ;
In 2008, the international economic scene was marked by:
a general slowdown starting in the fourth quarter which has affected both developed
and emerging countries. The latest estimates of the International Monetary Fund (IMF) set
the growth rate of the economy at 3.7% in 2008 after reaching 5% in 2007;
in the United States,
the bursting of the property bubble led to a strong increase in
arrears and home repossessions. Economic activity declined. The growth rate of GDP in real
terms reached 1.4% as opposed to 2% in 2007. Despite massive liquidity injection, GDP fell
by an annual rate of 2.8%, with inflation over 5% and a budget deficit around $1,000
billion.
the European economies entered recession
with predicted growth standing at 1.0%
in 2008 compared to 2.6% in 2007. The Eurozone should see a 0.3% fall in GDP in 2009;
the economies of emerging countries,
particularly China and India, resisted the financial
crisis, despite some signs indicating a downturn. The growth rate of the two countries in real
terms grew to 9.7% and 7.8% respectively in 2008 from 11.9% and 9.3% in 2007;
the financial crisis will no doubt have had a lesser impact in 2008 on African countries
in the sub-Saharan zone,
because the structure of their economies is largely dependent on
oil and mining resources for some, and agriculture, for others. The GDP growth rate fell
by one percentage point, from 6% in 2007 to 5% in 2008.
Within the West African Economic and Monetary Union (WAEMU), the latest forecasts
predicted growth of 4.2% in 2008 compared to 4.5% one year earlier.
Le cadre économique & financier
de l'exercice 2008
Economic & financial trends
during fiscal year 2008
©
C.
&
B.
Desjeux
Plus les enfants s`épanouissent,
plus ils réussissent leur vie.
The more they thrive, the better they will succeed in life.
13
Rapport du Conseil d'Administration
Report by the Board of Directors
to the Annual General Meeting held on 23 May 2009
à l'Assemblée Générale Ordinaire du 23 mai 2009
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