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Economy: a sum of 1700 billion FCFA was transferred by Senegalese living abroad in 2022

22/12/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Last year, Senegalese living abroad transferred an amount of 1700 billion FCFA to their country. The information was published in Senegal's Balance of Payments data presented by the Ministry of Finance.

The statistical document presented by the Minister of Finance and Budget, Moustapha Ba, mentions that for the period under review, remittances from the Senegalese diaspora are estimated at 1700 billion FCFA. These remittances from the diaspora have become the main source of financing for the Senegalese economy, far exceeding development assistance. They have thus contributed significantly to the country's economy.

The latest report of the global money transfer index mentioned that Senegal ranks among the five largest recipients of remittances in Africa, receiving 2.7 billion US dollars (about 1632.15 billion FCFA) in 2022.

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