Senegal needs nearly 18,500 billion CFA francs to finance its 2025-2029 economic plan

“The 2025-2029 five-year plan will be structured around four strategic axes defined in the new framework: the competitive economy, quality human capital and social equity, sustainable planning and development, good governance and African commitment,” said Mr. Diallo.

He spoke at the presentation ceremony of the new national development policy document “Senegal 2050”, in the presence of the President of the Republic, Bassirou Diomaye Faye, and the Prime Minister, Ousmane Sonko.

This plan to be implemented from next year, using the new public policy document, must be financed with 18.496 billion 83 thousand CFA francs, indicated the official of the Ministry of Economy, Planning and of Cooperation.

Regarding human capital, the government wants to ensure that the population is “well educated and well fed,” he said.

The public authorities will promote an endogenous development model, based on territorial hubs, which will be based on the potential of each part of the country, according to Souleymane Diallo.

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He points out that the stability of the country and regional integration are among the priorities defined by the Senegalese authorities by virtue of the “African commitment” that they advocate in terms of foreign policy.

Good governance, strengthening citizens’ trust in institutions and promoting scientific and technological innovation are among the priorities, according to Mr. Diallo.

He adds that the promotion of a “competitive economy” will consist of developing growth engines in the territorial centers and providing Senegal with a sustainable economic framework.

A “reprofiling” of public debt The country will resort to “domestic financing” to build its infrastructure, continued the official from the Ministry of Economy, Planning and Cooperation, ensuring that the attractiveness of the environment of Business and private sector development remain priorities.

Mr. Diallo affirms that the contribution of Senegalese living abroad to the country’s “national transformation agenda” is one of the priorities of the new authorities.

The five-year plan provides for the construction of an efficient health system accessible to all, he added, considering that it is urgent to build an inclusive and efficient social protection system over the coming years.

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Concerning planning and sustainable development, the third axis of the five-year plan, the government is committed to promoting “organized urbanization” and sustainable management of natural ecosystems.

Likewise, he will lead a fair and equitable energy transition, according to the Director General of Planning and Economic Reforms.

The consolidation of the rule of law is one of the priorities of the State, as is the reform of national institutions and public administration, concerning the fourth axis of the 2025-2029 plan. According to Souleymane Diallo, the authorities are banking on average economic growth of 6.5 to 7%, between 2025 and 2029.

During the same period, inflation must remain around 2%, below the 3% threshold set by the West African Economic and Monetary Union, he said. According to Mr. Diallo, the 2025-2029 plan at the same time provides for a “reprofiling” of the public debt, with the aim of reducing it from 84% to 70% of GDP.

Decentralization, reform of public finances, land management and justice are part of the State’s projects, he continued.