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.
Senegalese are preparing to vote in the presidential election on February 24, and, if there is a runoff, March. We expect President Macky Sall to win in the first round, and certainly to win in the second, if there is one. His win will be positive for policy continuity. A fair and peaceful election will create a positive environment for the country to continue achieving robust real GDP growth and getting larger FDI inflows. Other factors that are expected to boost growth include sustained capital spending under the country’s development plan, the Emerging Senegal Plan (PSE), as well as expanding agricultural and mining sectors. Meanwhile, weaker global oil prices are expected to ease pressure on Senegal’s external accounts as well as the fiscal position this year. (Source: Senegal Quarterly Update, January 2019.)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-3.8 |
|
Consumer Price Index (% change y-o-y, avg) |
0.5 |
|
Current Account Balance (as a % of GDP) |
-8.6 |
|
Real GDP (annual % change) |
6.3 |
|
GDP per Capita, US$ |
1,125.1 |
|
Import Cover (months) |
5.0 |
|
Population, million |
16.3 |
| Total External Debt (as a % of GDP) |
49.1 |