Economic boom amidst liquidity challenges

C2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in January 2025.

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Form of state Republic
Head of government Bassirou Diomaye FAYE (President)
Next elections 2029, Presidential
  • Relatively good regional and international relations, membership of the West African Union (WAEMU) and usage of CFA franc provide relative economic stability including low risk associated with exchange rate volatility, convertibility and transfer of funds
  • Political stability and market-friendly reforms have elicited foreign investment amid solid collaboration with the IMF
  • Oil and gas fields coming online, along with increasing tourism, are improving external and fiscal accounts
  • Revised fiscal deficit at 11% of GDP in 2024 will lead to higher debt servicing and increase financing requirements
  • Delays in oil and gas production, coupled with output falling below expectations, could diminish government revenue and exacerbate liquidity challenges
  • Growth prospects have become increasingly vulnerable to climatic effects, e.g. on agricultural output, and the import bill as Senegal remains a net importer of food and energy
     
(% of total, 2023)
(% of total, annual 2023)
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