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Economic growth: Senegal's GDP is expected to pass the 10% mark in 2023

11/04/2023
Source : ORISHAS FINANCE
Categories: Rate

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The methodologies used by each of these institutions, ( the International Monetary Fund (IMF), the World Bank and the African Development Bank (AfDB), Senegal's GDP, boosted by oil and gas production, is expected to reach 10.1% to 10.4% in 2023.

Dans le mois de mars dernier, l' agence Moody's has joined the already strong chorus of observers who are counting on double-digit real GDP growth in Senegal. Indeed, GDP should reach 10.1% to 10.4%, depending on the methodologies used by each of these institutions, which are the International Monetary Fund (IMF), the World Bank and the African Development Bank (AfDB). For its part, the African Development Bank forecasts that “Senegal's growth should accelerate” and “increase from 4.7% in 2022 to 10.2% in 2023.”

For the IMF “the growth forecasts for 2023 and 2024 are 8.3% and 10.4% respectively, thanks to oil and gas production, which is expected to start at the end of 2023 and significantly improve the current account balance and the debt/GDP ratio.” For its part, the World Bank recommends that “the reforms envisaged under the Plan Senegal Emergent (PSE) must be deepened if we want to return to the growth trajectory that existed before the pandemic.”

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