Senegal: A plan worth €22.4 billion to revive economy after Covid 19 effects

How to revive the Senegalese economy? The question was at the heart of a presidential council on Tuesday, September 29.

Representatives of the government, the private sector, and partners of the country were gathered around Macky Sall. The authorities presented a plan worth €22.4 billion and defined priority sectors.

“After the defense, it is necessary to pass to the attack” to find the growth according to the sporting formula used by Head of State. And to do this, the authorities have adjusted their strategy, with new priorities: Accelerate food sovereignty by strengthening autonomy in basic products, where Senegal is on the right track, especially rice; sanitary and pharmaceutical sovereignty; the industrialization and digital transformation of the economy, explains Amadou Hott, Minister of the Economy.

 

For the implementation of this plan, the authorities are counting on the participation of the private sector, up to one third.

 

The strategy is supported by partners in Senegal, but remains unbalanced according to Fassory Diawara, representative of the civil society. “Research and innovation are not taken into account in the definition of priority actions. The education and training sector represents only 3.6% of the resources allocated to funding. This in itself is difficult to understand. Youth policy has a budget allocation that is, on the whole, insufficient. In this respect, we note a huge gap between the Dakar axis and other cities,» Diawara argues.

 

With the coronavirus pandemic, Senegal’s growth rate, forecast at 6.8% in 2020, could drop to -0.7%. But the Head of State is optimistic, with a growth forecast of 5.2% as of next year and a perspective of more than 13% in 2023, thanks to the exploitation of oil and gas.