In-Depth Analysis
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.
Recent global developments, especially the Covid-19 pandemic that has spread rapidly across the world, coupled with a plunge in international oil prices, have prompted us to change our view of Senegal’s economy over the short term. The real GDP growth forecast has been revised significantly downwards and we expect to see the fiscal deficit balloon as the government implements the announced fiscal stimulus package. Due to lower demand, we expect consumer price pressures to soften. Nonetheless, the global economic downturn is expected to be a short but deep one, therefore we expect the Senegalese economy to rebound next year. (Source: Senegal Quarterly Update, April 2020)
Macroeconomic Data
(2019)
|
Fiscal Balance (as a % of GDP) |
-3.6 |
|
Consumer Price Index (% change y-o-y, avg) |
1.0 |
|
Current Account Balance (as a % of GDP) |
-6.5 |
|
Real GDP (annual % change) |
5.8 |
|
GDP per Capita, US$ |
1,499.5 |
|
Import Cover (months) |
4.8 |
|
Population, million |
16.3 |
| Total External Debt (as a % of GDP) |
53.7 |