Economics
Senegal Plans to Invest About $30.5 Billion In Development
- State to reduce reliance on debt financing, draft plan says
- Country is on verge of becoming major oil and gas producer
Sandaga market and retail street in Dakar, Senegal.
Photographer: Annika Hammerschlag/BloombergThis article is for subscribers only.
Senegal, a nascent oil and gas producer, intends spending about 12.8 trillion CFA francs ($21 billion) on development over the next five years and aims to garner another 5.7 trillion CFA in private investment, a draft government plan shows.
Public investment in education, energy infrastructure and a range of other projects is seen increasing by an average of 14.7% annually between 2025 and 2029, according to the document, which is still a work in progress.