Senegal economic outlook remains favorable: IMF
An International Monetary Fund (IMF) mission led by Ali Mansoor visited Dakar from March 1-13, 2016 to conduct discussions on the second review of the three-year arrangement under the Policy Support Instrument (PSI) approved in June 2015.
At the conclusion of the visit, Mr. Mansoor said, macroeconomic performance during 2015 has been strong with growth of 6.5 percent for the first time over the last twelve years. This reflects in particular the initiation of the Plan Senegal Emergent (PSE)-related projects and the buoyant performance in agriculture thanks to good weather and higher productivity in the sector. PSI program implementation continues to be satisfactory; all the quantitative criteria and most indicative targets for 2015 have been met, including the fiscal deficit target. However, implementation of structural reforms has been slow with several structural benchmarks, particularly those aimed at improving economic governance, not yet implemented.
The economic outlook remains favorable in the short term with growth projected to reach 6.5 percent in 2016.