US EditionSenegal PM Unveils Economic Recovery Plan Based on Domestic Resources
SENEGAL, AUG 1 – Senegal plans to raise 90% of its 4.6 trillion CFA franc recovery fund domestically to reduce a 12% budget deficit to 3% of GDP by 2027, avoiding new debt, officials said.
- On Friday, Prime Minister Ousmane Sonko introduced a strategy aimed at reviving Senegal’s economy and bringing greater stability to the nation’s financial situation.
- The plan responds to a deteriorating economy with a 14-percent budget deficit and public debt at 119 percent of GDP inherited from the previous administration.
- The plan aims to finance 90% of resources domestically between 2025 and 2028, includes merging state institutions, scrapping tax exemptions, and raising tobacco taxes to 100%.
- Sonko indicated that over 4.6 trillion CFA francs can be accessed without incurring additional debt, and that revenues from visa charges are expected to reach 60 billion CFA francs.
- The plan seeks to reinforce Senegal's sovereignty while respecting international commitments and avoiding excessive taxes to preserve investment attractiveness.
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36 Articles
The Straits Times
The PrintSenegal unveils recovery plan to rely on domestic funding
DAKAR - Prime Minister Ousmane Sonko on Friday unveiled a new economic recovery plan for Senegal, pledging to finance 90% of the initiative through domestic resources and avoid additional debt. Read more at straitstimes.com.
The Senegalese government is taking action in the face of the economic crisis. Prime Minister Ousmane Sonko presented Friday, August 1, 2025 in Dakar, alongside President Bassirou Diomaye Faye, a national plan for economic and social recovery. He is part of the authorities' "Senegal 2050" strategy. This programme was adopted on July 30 in the Council of Ministers, while the debt and deficit are worrying donors.
Senegal Unveils Ambitious Domestic-Led Economic Recovery Plan
Senegal's Prime Minister Ousmane Sonko unveiled a new economic recovery plan focused on domestic financing. Aiming to cover 90% of the initiative from local resources, the plan seeks to address financial instability without accruing new debt. This move comes amid inherited debt challenges and halted IMF assistance.
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