IMF cautions “challenging” macroeconomic outlook in Senegal for the rest of 2024

DAKAR, Sept. 14 (Xinhua) — The macroeconomic outlook for the rest of 2024 is expected to be “challenging” for Senegal, where economic growth projection is now lowered to 6 percent from 7.1 percent in June, the International Monetary Fund (IMF) said on Friday.
“Real GDP growth was 2.3 percent in the first quarter, and economic indicators point to a similar deceleration in the second quarter,” the IMF said in the press release following a week-long mission to Senegal.
This slowdown reflects weaker activity in the mining, construction, and agro-industrial sectors and, to a lesser extent, in the primary sector, it said.
Senegal’s budget execution through the end of August “revealed a significant revenue shortfall, while expenditures remained broadly in line with projections,” it noted. ■