In the streets of Dakar, a wind of optimism is blowing. Senegal, this West African country long considered a model of political stability, is preparing to experience an unprecedented economic transformation.
According to the latest projections from the Ministry of Finance and Budget, growth could reach a dizzying peak of 9.7% in 2025, propelled by the long-awaited exploitation of oil and gas resources.
This enticing prospect, revealed in the Multiannual Budgetary and Economic Programming Document (DPBEP), outlines the contours of a promising future for the Senegalese nation.
The source of Senegal’s growth
Black gold and natural gas will be the catalysts for this growth. They should breathe new life into the entire economy, with knock-on effects on all sectors.
The secondary sector, the real driving force behind this growth, is expected to experience an average expansion of 10.3% over the period 2025-2027.
But make no mistake, it is not only the extractive industry that is doing well. The agri-food and manufacturing industries, traditional pillars of the Senegalese economy, should also maintain their course, with projected growth of 5 .9%.
The primary sector is not left out, with an expected increase of 5.2%. Agriculture, the spearhead of the rural economy, should benefit from an increase in productivity, while fishing and livestock would maintain their dynamism thanks to the sustained efforts of the State.
As for the tertiary sector, it should ride the wave of prosperity with average growth of 5.1%. Financial services, commerce, hotels and restaurants should particularly do well, stimulated by the influx of capital linked to the exploitation of hydrocarbons.
The cherry on the cake is that inflation should remain under control, with an average of 2.4% over the period 2025-2027, well below the 3% threshold set by UEMOA. Enough to preserve the purchasing power of Senegalese people and allow them to fully benefit from the fruits of this announced growth.
As Senegal prepares to enter the era of oil and gas, an entire country is holding its breath, between hope for a better future and the challenge of sustainable management of this providential windfall. The history of Senegal is being written, and it promises to be fascinating.
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