The Senegalese government has achieved a significant milestone this year, collecting 63.4 billion CFA francs under the Economic and Social Recovery Plan (PRES), as announced by Finance Minister Cheikh Diba to the National Assembly. This development comes at a critical juncture, with ongoing IMF negotiations that hinge on the country’s ability to meet ambitious revenue targets.
PRES targets and current progress
The PRES, unveiled by Prime Minister Ousmane Sonko on August 1, 2024, outlines a comprehensive strategy to mobilize 5,667 billion CFA francs between 2025 and 2028. For 2026 alone, the government aims to generate an additional 762.6 billion CFA francs in revenue, as outlined in the initial budget law. Of this amount, 63.4 billion has already been collected, including 7.9 billion from customs duties. However, nearly 700 billion CFA francs remain to be recovered to meet the annual target.
The IMF is closely monitoring Senegal’s fiscal trajectory, which is strained by significant financial challenges. The government’s ability to achieve these revenue targets will play a crucial role in the ongoing discussions for a potential support program with the Bretton Woods institution.
Government defends PRES amid critical media coverage
In response to skepticism from certain media outlets regarding the pace of revenue collection, Waly Diouf Bodian, a political advisor to the Prime Minister, emphasized that the plan is generating between 15 and 20 billion CFA francs monthly. He also highlighted that upcoming measures, particularly those targeting land and money transfers, are expected to yield increasing returns in the coming months.
The government is set to face scrutiny during an upcoming parliamentary session, where lawmakers will assess the actual revenue trajectory of the PRES against the quarterly targets set in the budget law.
