Senegal: Double-digit growth thanks to oil and gas in 2023

La croissance de l’économie sénégalaise devrait bondir de “10% en 2023”, contre 4,8 % en 2022, grâce à l’entrée en production des premiers gisements d’hydrocarbures du pays. C’est ce qu’a déclaré le président sénégalais Macky Sall dans son message à la nation, prononcé au soir du samedi 31 décembre 2022, veille du Nouvel an.

Significant oil and gas deposits have been discovered in Senegal, including Sangomar located 100 km south of Dakar, Grand Tortue Ahmeyim (GTA) on the Senegalese-Mauritanian border and Yakaar-Teranga off Cayar. The two oil fields are expected to come on stream in 2023, and the gas fields will follow in early 2024.

S’agissant de la mobilisation des ressources, M. Sall a affirmé que les recettes intérieures “ont augmenté de 23% au cours de l’année 2022”, grâce à la bonne performance des régies financières.

According to the Senegalese leader, the latter "have achieved a more than satisfactory recovery rate of 90% compared to the target set" and have allowed Senegal to have "more budgetary autonomy" which resulted in the coverage of "85% of internal public expenditure of the State".

President Macky Sall, in his speech, promised the continuation of infrastructure projects in 2023, despite the global crisis. He also recalled that in 2022 Senegal has completed " emblematic projects" These include the first phase of the Regional Express Train (TER), the Abdoulaye Wade Stadium in Diamniadio and the Nelson Mandela Bridge in Foundiougne.

Senegal should join, as early as 2023, the club of hydrocarbon producing countries thanks to the important offshore discoveries made in recent years.