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Economic growth in Senegal: The projected GDP growth rate is 5.2% in 2021.

11/11/2020
Source : dakaractu
Categories: Economy/Forex

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Senegal's real GDP growth rate is projected at 5.2% in 2021 against a negative growth of 0.7% in 2020, says the economic and financial report annexed to the initial 2021 finance law consulted by Aps.

"Overall, the real GDP growth rate is projected at 5.2% in 2021 compared to -0.7% in 2020, a gain of 5.9 percentage points. This growth would be driven by both the primary (+4.7%), secondary (+5.5%) and tertiary (+4.8%) sectors," reports
the document. 

In the primary sector, it is expected to increase by 4.7% in 2021 against 5.1% in 2020. According to the document, it is drawn mainly by the subsectors of agriculture, fisheries and to a lesser extent the subsector of livestock. 

In the agricultural sector, the growth of agriculture and related activities is projected at 5.1% in 2021 against 6.0% in 2020. Regarding the livestock subsector, it is expected in 2021 an increase of 2.9% against 0.8% a year ago. This activity is expected to be revitalised as a result of the difficulties associated with border closure measures. 

As for the fisheries subsector, the document indicates that it would remain dynamic with an increase of 6.3% in 2021 after the strong growth forecast in 2020 (+11.9%).

Regarding the secondary sector, it is expected to increase by 5.5% in 2021 against a decline of 1.1% in 2020, a contribution of 1.3 percentage points to real GDP growth. In the extractive subsector, activity is projected to increase by 5.8% against a decline of 11.4% expected in 2020

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