Senegal unveils major transformation plan --[Reported by Umva mag]

The plan, which replaces the previous government’s “Plan Senegal emergent,” will be backed by a substantial investment of 18,493.83 billion CFA francs during its first phase (2025-2029).

The plan, unveiled by President Bassirou Diomaye Faye, outlines a series of strategic reforms focused on decentralization, digitalization, and economic diversification. The government aims to deconcentrate administrative services around eight territorial poles and promote inclusive growth through targeted development strategies for each region.

A key component of the plan is the promotion of extractive industries, which are expected to play a crucial role in driving industrial development and reducing Senegal’s dependence on imports. The government also intends to improve the business environment, enhance digital transformation, and mobilize the Senegalese diaspora to support economic growth.

To achieve its ambitious goals, Senegal is targeting an economic growth rate of 7 percent by 2029. This will be supported by fiscal reforms, budget consolidation, and efforts to broaden the tax base. The government also plans to reduce its debt ratio and increase the efficiency of public spending.

Despite the challenges ahead, the Senegalese government is confident in its ability to implement the “Senegal 2050” plan and deliver a more prosperous and equitable future for the country.

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