Government defends economic recovery plan amid fiscal challenges
Cheikh Diba, Senegal’s Minister of Finance, recently disclosed to the National Assembly that the Plan de Redressement Économique et Social (PRES) has generated 63.4 billion CFA francs this year. These figures were unveiled during tense negotiations with the International Monetary Fund (IMF), prompting Waly Diouf Bodian, a key advisor to Prime Minister Ousmane Sonko, to step forward in defense of the government’s performance.
PRES targets 762.6 billion CFA francs in additional revenue by 2026
The PRES, unveiled by Prime Minister Sonko on August 1, 2024, aims to mobilize 5,667 billion CFA francs between 2025 and 2028. For 2026 alone, the government expects an additional 762.6 billion CFA francs in revenue, as outlined in the initial budget law. So far, 63.4 billion has been collected, including 7.9 billion from customs duties, with nearly 700 billion remaining to meet the annual target. The IMF is closely monitoring Senegal’s fiscal trajectory, as the country faces significant financial constraints. The government’s ability to achieve its revenue goals will heavily influence ongoing discussions with the Bretton Woods institution regarding potential support programs.
Waly Diouf Bodian counters criticism over revenue shortfalls
Amid criticism questioning the pace of revenue collection, Waly Diouf Bodian emphasized that the plan generates between 15 and 20 billion CFA francs monthly. He also highlighted that measures targeting land ownership and money transfers are expected to yield stronger results in the coming months. The government will face further scrutiny this week during a parliamentary session, where lawmakers will assess the PRES’s actual revenue performance against the quarterly targets set in the budget law.