The Senegalese Minister of Finance, Cheikh Diba, recently addressed the National Assembly, revealing that the Economic and Social Recovery Plan (PRES) has generated 63.4 billion CFA francs this year. These figures were disclosed amid tense negotiations with the International Monetary Fund (FMI), prompting Waly Diouf Bodian, political advisor to Prime Minister Ousmane Sonko, to vigorously defend the government’s financial strategy.
PRES targets and current revenue collection
The PRES, unveiled by Prime Minister Sonko on August 1, 2024, aims to mobilize a total of 5,667 billion CFA francs between 2025 and 2028. For 2026 alone, the government expects an additional 762.6 billion in revenue, as outlined in the initial budget law. So far, 63.4 billion has been collected, including 7.9 billion from customs duties, according to Diba’s report to lawmakers. With nearly 700 billion still to be recovered, the government faces a significant shortfall to meet its annual targets.
The FMI is closely monitoring Senegal’s fiscal trajectory, as the country grapples with severe financial strain. The government’s ability to achieve its revenue goals will heavily influence ongoing discussions with the Bretton Woods institution regarding a potential support program.
Government defends economic plan amid criticism
Waly Diouf Bodian pushed back against critical media narratives, particularly those questioning the slow pace of revenue collection. He emphasized that the PRES is generating between 15 and 20 billion CFA francs monthly and highlighted that upcoming measures targeting land and money transfers are expected to yield even greater returns in the coming months.
The government’s performance will be scrutinized this Friday during a parliamentary session on current affairs. Lawmakers are expected to press the executive on the plan’s revenue trajectory compared to the quarterly targets set in the budget law.
