Senegal unveiled a 25-year socio-economic development strategy aimed at enhancing its economic competitiveness and the quality of life for citizens.
The plan spans multiple phases, the first of which kicks off with a $30 billion economic strategy running from 2025 through 2029. This initial phase focuses on reducing the national budget deficit from 4.9% to 3% of GDP, using a mix of public, private and public-private partnerships for financing.
“We aim to build a diversified and resilient economy,” stated Senegalese President Bassirou Diomaye Faye.
Senegal aims to become energy self-sufficient and increase energy access from 84% to 100% as part of the socio-economic plan. The country achieved its first oil production at the Sangomar project in 2024 and eyes first gas production at the Greater Tortue Ahmeyim project in early-2025.
The 25-year plan seeks to ensure that the exploitation of Senegal’s raw materials drives the growth of the local economy, supporting local private sector entities and fostering skills development among the youth, according to President Faye.
