According to published official data, the resources mobilized as of September 30, 2024 amount to 2,886.8 billion FCFA, i.e. an execution rate of 61.5% compared to the forecasts of the Initial Finance Law (LFI). This figure marks an increase of 124.44 billion FCFA, an increase of 4.5% in absolute value, compared to the same quarter of the previous year.
An increase in internal revenue
This increase is mainly due to the good performance of internal resources, which increased by 151.15 billion FCFA, representing an increase of 5.7%. Tax revenue particularly contributed to this dynamic, with growth of 160.04 billion FCFA, an increase of 6.4% compared to 2023. In particular, direct taxes increased by 111.3 billion FCFA, i.e. increase of 11.7%, while indirect taxes recorded an increase of 44.2 billion FCFA (+2.9%).
Upward revision of open credits
The general budget appropriations, initially set at 5,533.90 billion FCFA in the 2024 LFI, were revised upwards by 57.58 billion FCFA, reaching a total amount of 5,591.49 billion FCFA as of September 30, 2024. This The revision mainly results from the carryover of investment credits financed from internal resources (56.73 billion FCFA) made at the start of the year.
Expenses under control
On the expenditure side, budget execution as of September 30, 2024 amounts to 4,571.06 billion FCFA, representing 81.8% of the appropriations opened. This sum includes both ordinary expenditure and capital expenditure, which follow different execution trends. Ordinary expenditure was carried out to the tune of 2,864.18 billion FCFA, with an execution rate of 76.6%, while capital expenditure amounted to 1,706.88 billion FCFA, i.e. a rate of 92.1% higher performance.
Details of expense categories
The execution of expenses is distributed as follows:
Financial charges of public debt: 567.75 billion FCFA (98.2% execution)
Personnel expenditure: 1,054.14 billion FCFA (73.1% execution)
Expenditure on acquisition of goods and services: 250.48 billion FCFA (60.4% execution)
Current transfer expenditure: 991.81 billion FCFA (76.2% execution)
Investment expenditure executed by the State: 91.77 billion FCFA (27.9% execution)
Capital transfer expenditure: 528.14 billion FCFA (64.1% execution)
Capital expenditure from external resources: 1,086.97 billion FCFA (154.9% execution)
Capital expenditure from external resources stands out for a particularly high execution rate of 154.9%, which testifies to the effective mobilization of external financing to support the country's infrastructure and investment projects.
Overall, the execution of the budget in the third quarter of 2024 highlights satisfactory results both in terms of revenue and expenditure. Senegal appears on track to meet its annual budget targets, with adjustments and revisions to maintain a balanced and dynamic financial framework. Tax performance, notably the increase in collections, as well as the management of investment credits, suggests financial stability in the near future.
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