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Senegal

Senegal

Political and Economic Situation

Senegal is one of the most stable countries in Africa and has considerably strengthened its democratic institutions since its independence from France in 1960. In March 2016, Senegal further reinforced its political system by a referendum that voted for reducing the length of the presidential term and establishing new regulations such as the intangibility of some articles of the constitution, the creation of a new consultative assembly and changes that allow independent candidate status as well as an official status for the opposition leader for all elections. Senegal has only had peaceful political transitions and currently has Macky Sall as president since 2012. The next presidential election is expected in 2019 while legislative elections are planned for 2017.

In the past few years Senegal’s macroeconomic performance was steadily on the rise, making Senegal the second fastest growing economy in West Africa, behind Côte d’Ivoire. Growth remained strong in 2016 with a rate of 6.4%. Progressively higher rates are expected for 2017 and beyond, driven by the vigour of the agricultural sector, the continuing recovery of the vegetable oil and sugar industries, as well as extractives, energy (in particular nascent activity around new oil and gas reserves), telecommunications and financial services. The slowly diversifying economy could also benefit from the continued implementation of the Plan for an Emerging Senegal (PSE), which entered its fourth year in 2017 and aims to ease structural bottlenecks to growth and facilitate private initiative by basic structural reforms with the ultimate goal of turning Senegal into an emerging economy by 2035 with an average growth of 7% at that time.

Inequality in Senegal is moderate, and slightly lower than the Sub-Saharan African average. However, poverty remains high, affecting 46.7% and with very pronounced geographic disparities with almost 2 out of 3 residents poor in rural areas, especially in the south, versus one in four in Dakar. Urbanisation is nevertheless constantly increasing with the urban population at 43.7% (based on the census of 2015) with over 23% in only 0.3% of the territory of the population in the greater Dakar region due mainly to the inflow of people from the countryside, bringing with it a substantial demand for socio-economic infrastructure and raising the issue of sustainable urban management.

 

Key figures

Available statistics:
Capital
Dakar
Official language
French
Population (2016 est.)
15.3m
Population growth (2016 est.), %
2.42
Median age (2016 est.), years
18.7
Urbanization rate (2010 - 2015), % p.a.
3.59
Urban population (2015), % of total
43.7
Rural population (2015), % of total
56
Population density (2015), per km2
79
HDI (2014)
170 of 188
National Currency
West African CFA franc (XOF/CFA)
Exchange rate (February 2017), USD
1 USD = 609.9 XOF
GDP (2015), USD million current
13,610
GDP growth (2015), %
6.5
GDP annual growth rate forecast (2020), %
6.86
GNI per capita (2015), PPP current int’l USD
2,380
Inflation (Dec. 2016), % y-o-y
2.10
Inflation Rate Forecast (2020), %
1.5
Foreign Direct Investment, net inflows (2015), BOP current USD millions
345
Net official development assistance (2014), current USD millions
1,107
Budget deficit (2016), % of GDP
4.1
Ease of Doing Business (2016), rank of 190
147
TI Corruption Index (2016), rank of 176
64
Installed Generation Capacity (2016), MW
583
Installed Fossil Fuel Capacity (2016), % of total installed capacity
85
Hydro Capacity (2014), % of total installed capacity
10
Other RE Capacity (2016), % of total installed capacity
<1
Renewable electricity output as % of total electricity output excl. hydro (2016)
<1
Avg. distribution and transmission losses as % of output (2014)
16
Net electricity imports (2014), kWh
0
Electrification rate, total (2016) %
55
Electrification rate, urban (2016) %
90
Electrification rate, rural (2016) %
<28
Peak demand (2012), MW
429
Per capita electricity consumption (2013), kWh
210
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