Senegal: 6.1% Growth, but Budget Deficit at 13.4% of GDP

Senegal's economy grew by 6.1% in 2024, driven mainly by oil production that started in June 2024, boosting the secondary sector by 18.7%. However, the budget deficit, estimated at 13.4% of GDP, significantly exceeds the initial forecast of 3.5%, due to extrabudgetary expenses and unaccounted bank debt. Public debt reached 83.7% of GDP in 2023, and the agricultural sector declined by 3% due to floods and reduced yields. Food security remains fragile, with 23.4% of households experiencing food insecurity in 2024.