Senegal

The IMF revised Senegal’s growth forecast to 7.1% in 2024 from an earlier 8.3%, influenced by electoral uncertainties, and postponed gas production commencement until December 2024. The IMF emphasized the necessity for Senegal to achieve a fiscal deficit target of 3.9% of GDP by end-2024. Senegal’s debt ratio escalated to 73.4% of GDP last year due to pre-election liquidity boosts and heightened energy subsidies totaling 620 bln CFA francs, equivalent to 3.3% of GDP.