Senegal's New Development Agenda: A Shift Towards Self-Reliance

2024-10-11 19:37:20.506000

Senegal is on the brink of unveiling a transformative development agenda aimed at reducing foreign dependence and leveraging local resources. Prime Minister Ousmane Sonko announced that this new initiative will be presented on October 14, 2024, as part of President Bassirou Diomaye Faye's commitment to revitalizing the nation since he took office in April 2024. Sonko has been critical of previous development models, labeling them ineffective and stating, 'The development models that have been presented to us or applied to us so far will never be able to develop our country' [ba01a4e0].

The ambitious program is designed to span the next 25 years, with goals to significantly reduce poverty, triple per capita income by 2050, and achieve annual economic growth rates of 6-7%. However, Senegal's current economic landscape is dire, characterized by a budget deficit of 10.4% of GDP and public debt reaching 76.3% of GDP. Sonko has accused the former administration of manipulating financial figures, which has contributed to the country's 'catastrophic' economic situation [ba01a4e0].

In a bid to implement this new agenda effectively, the government plans to establish eight development hubs across the country, which are expected to serve as focal points for economic growth and resource utilization. This announcement comes at a critical time, as Senegal prepares for snap elections scheduled for November 17, 2024, following the dissolution of the national assembly in September [ba01a4e0]. The upcoming elections will likely play a significant role in shaping the future of Senegal's economic policies and governance.

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