Senegal: Fifth Review Under the Policy Support Instrument and Request for Modification of Assessment Criterion-Press Release; Staff Report

Author: International Monetary Fund. African Dept.

Fifth Review Under the Policy Support Instrument and Request for Modification of Assessment Criterion-Press Release; Staff Report

Volume/Issue: Volume 2018 Issue 008

Publication date: January 2018

ISBN: 9781484337509

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Topics covered in this book

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Exports and Imports , Public Finance , ISCR , CR , deficit , debt indicator , debt , reform , GDP deflator , plan Sénégal emergent , creating flow , dynamics raise , risk rating , burden indicator , sustainability framework , Debt sustainability analysis , Budget planning and preparation , Global

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Summary

This paper discusses Senegal’s Fifth Review Under the Policy Support Instrument and Request for Modification of Assessment Criterion. Senegal’s macroeconomic situation is stable. Growth is expected to exceed 6 percent in 2017 for the third year in a row, while inflation remains low. The fiscal deficit has been declining progressively in recent years and is projected to reach 3.7 percent of GDP in 2017. The current account deficit is projected to increase to 7.8 percent of GDP in 2017 owing to higher oil prices and slightly slower export growth. The outlook for the Senegalese economy remains on the whole positive. Senegal needs to continue implementing its structural reform program to maintain high growth rates of recent years.