The Senegalese government on Wednesday adopted the budget bill for the year 2023 at more than 6.4 trillion CFA francs (about 9.63 billion U.S. dollars), the Council of Ministers said in a statement.
The budget bill will be submitted to the National Assembly for approval in November.
According to the statement, Senegalese President Macky Sall hailed the favorable evolution of the state budget which, according to him, “is carried by a planned growth of 10.1 percent thanks to the beginning of the exploitation of hydrocarbons through the projects Grande Tortue-Ahmeyin (GTA) and Sangomar.”
Grande Tortue-Ahmeyin (GTA) and Sangomar, referring to two oilfields of the country, are expected to start production next year.
Given the particular context marked by inflation, the appreciation of the dollar, and the rising cost of living, President Sall underscored the consolidation of budgetary sovereignty with a rate of coverage of public expenditure on internal resources of about 83 percent, while allowing for the strengthening of national solidarity and social inclusion policies.
President Sall also stressed the need to ensure the protection of consumers and households, maintaining the implementation of major projects of the Emerging Senegal Plan, a ten-year strategy launched in 2014 to speed up the country’s development. Enditem