Senegal
Much of Senegal's economic growth during the next few years will be concentrated in the expanding mining sector related to increased production and investment. Infrastructure development is improving the operating environment.
Economic growth is forecast to reach 6.6% this year supported by a growing agricultural and tertiary sector. GDP growth should also accelerate in the medium term, as gas and oil production commence in 2021 and 2022, respectively. Various planned fiscal reforms under IMF guidance should also pave the way for fiscal consolidation, however, stringent commitment on the part of authorities is necessary, especially if Senegal wants to maintain its ambitious PSE, which has just entered the second phase. Ultimately, the lingering question is whether Senegal will be able to distribute economic growth to the benefit of all Senegalese citizens without falling prey to the resource curse. (Source: Senegal Quarterly Update, April 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-3.4 |
|
Consumer Price Index (% change y-o-y, avg) |
0.5 |
|
Current Account Balance (as a % of GDP) |
-5.8 |
|
Real GDP (annual % change) |
6.2 |
|
GDP per Capita, US$ |
1,449 |
|
Import Cover (months) |
4.7 |
|
Population, million |
16.3 |
| Total External Debt (as a % of GDP) |
44.4 |