“The sad reality of the figures since independence shows that our country is locked in a vicious circle of underdevelopment and poverty.”
Based on this alarming observation, the Prime Minister announced a key measure: the reform of the CFA franc.
“Our government has initiated discussions with the BCEAO concerning the state and prospects of the reform of the CFA franc.”
Prime Minister Ousmane Sonko also announced the repeal of the recent amnesty law adopted under former President Macky Sall, as well as the closure of foreign military bases present on Senegalese territory.
“A bill will be proposed to your august assembly in the coming weeks to repeal the amnesty law passed on March 6, 2024 by the previous legislature, so that all light is shed and responsibilities are established, whatever the their side In terms of sovereignty in the field of defense, the President of the Republic announced the upcoming closure of all foreign military bases in Senegal.a promis Ousmane Sonko.
Senegal must first rely on its own strengths
Senegal is thus adopting a new sovereign vision, banking economically on endogenous and inclusive growth, supported by innovative mechanisms to mobilize resources.
According to Habib Ndao, an economist and banker by training, this approach is based above all on the country’s ability to rely on its own strengths before seeking external support.
“This seems to be feasible to the extent that if the arrangements promised by the Prime Minister are implemented with the reduction of tax holidays, this could make it possible to have a reasonable tax rate in relation to extractive activities. There will be also a revision of the customs code If all of these measures are accompanied by an increased rationalization of state operating costs, I think that the Senegal 2050 vision can achieve its objectives.estimates the economist.
However, economist Seydina Oumar Seye recalls that, despite this promising macroeconomic trajectory, the question of feasibility remains raised, particularly in terms of financing. He also warns that the Senegalese will have to make considerable efforts to achieve this endogenous and inclusive development.
