Senegal: Public debt projected at CFAF 9,176.3 billion in 2020

Senegal’s total public debt stock is projected at CFAF 9,176.3 billion (€ 13.764 billion) in 2020, according to the economic and financial report appended to the 2021 finance law established by the Ministry of Finance and budget.

Compared to 2019 when it amounted to CFAF 8,231.8 billion, this outstanding amount has increased by 11.5%. « It should represent 64% of gross domestic product (GDP) in 2020 in connection with the large loans granted as part of the fight against Covid-19 in 2020 and however remain below the standard adopted as part of the pact of UEMOA convergence ”, underline the services of the Ministry of Finance and Budget.

With regard to internal revenues and grants from the Senegalese State, they are projected to increase by 6.3%, or +176 billion FCFA. According to the Ministry of Finance, they should thus increase from CFAF 2,789.1 billion in 2019 to CFAF 2,965 billion for the year 2020. They consist of receipts for a value of CFAF 2,478.2 billion, from donations to up to 455 billion FCFA and 31.8 billion FCFA in exceptional income.

Current charges and investments are forecast at FCFA 3,825.1 billion at the end of 2020 against FCFA 3,326.2 billion in 2019, i.e. an increase of 498.9 billion (+ 15%). According to the projections of the Ministry of Finance, investment spending should increase by 267.6 billion (+ 23.1%) to stand at 1427.8 billion FCFA in 2020. “This orientation is under the effect investment spending on internal resources and those on external resources, projected respectively to 741.8 billion and 686 billion with respective increases of 32.4% and 14.4% ”, underline the services of the Ministry of Finance and Budget from Senegal.

Regarding the financing of the budget deficit projected at 860 billion FCFA, it should, according to the projections of the Ministry of Finance, be « through net acquisitions of financial assets for a net amount of 22.5 billion. of FCFA, as well as by an accumulation of liabilities to the tune of 837.5 billion FCFA ”.

Regarding liabilities, the external part should contribute up to CFAF 509.4 billion with project loans and cash drawdowns of CFAF 426 billion and CFAF 373.7 billion respectively.

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