“Senegal 2050”: the ambitious plan of the Diomaye-Sonko duo to break away from over-indebtedness

Six months after its installation and under the terms of a vast plan presented Monday with great fanfare, the Senegalese government announced that it wanted to increase per capita income by 50% in five years and extend life expectancy by three years, all in reducing the deficit and debt.

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President Bassirou Diomaye Faye, inaugurated in April, chaired alongside his Prime Minister Ousmane Sonko in Diamniadio, the launch of an ambitious program of transformation of the economy and the State running until 2050 and intended to break away from over-indebtedness in particular. The presentation of this plan, called “Senegal 2050: national transformation agenda”, comes a few weeks before the anticipated legislative elections of November 17.

By 2029, therefore the end of its mandate, “Senegal must lay the foundations of this new model and clean up the economic framework,” explained Souleymane Diallo, director general of planning at the Ministry of the Economy.

The promise of “controlled” inflation

The government expects annual growth of between 6.5 and 7%. on the period 2025-2029. He intends to reduce the state debt from 83.7% of GDP in 2023 to 70%, and the budget deficit to 3% “within a reasonable time frame”, detailed Souleymane Diallo. The latter also stated the need to increase tax revenue by broadening the base without increasing taxes, as well as the need to control current expenditure and better target energy subsidies, which according to him represent 4% of GDP, “without however impact the electricity price. Inflation “will be controlled around 2% for the next five years,” he assured.

With the other actions planned, “the average income of the Senegalese will have to increase from 1,660 dollars to 2,468 dollars, an increase of almost 50% in five years,” he promises, referring to per capita income, that is to say the annual gross national income compared to the number of inhabitants. “Life expectancy at birth will increase by at least three years,” he also predicted. She was from presque 69 years old in 2023, according to the National Statistics Agency. The government also intends to achieve universal access to water and electricity.

Despite its natural wealth such as oil and gas, Senegal, which is expected to experience one of the fastest growing THE the strongest countries in West Africa, remains 169th country out of 192 in the UN Human Development Index. In five years, it should move from countries with low human development to countries with medium development, according to Souleymane Diallo.

(with AFP)