In a tense exchange at the National Assembly, Cheikh Diba, Senegal’s Finance Minister, revealed that the Economic and Social Recovery Plan (PRES) had generated 63.4 billion CFA francs by mid-year. These figures emerged amid escalating tensions with the International Monetary Fund (FMI), prompting Waly Diouf Bodian, a key advisor to Prime Minister Ousmane Sonko, to vigorously defend the government’s financial strategy.

PRES delivers early revenue, but gaps remain in long-term goals

The PRES, unveiled by Prime Minister Sonko on August 1, 2024, outlines a massive 5,667 billion CFA francs mobilization plan for 2025–2028. For 2026 alone, the government aims to secure an additional 762.6 billion CFA francs through the initial budget law. While 63.4 billion has been collected so far—including 7.9 billion from customs revenues—this leaves nearly 700 billion still to be recovered to meet the annual target. The FMI remains closely monitoring Senegal’s fiscal trajectory, as the country grapples with severe financial constraints. A successful revenue collection process could significantly influence ongoing negotiations for potential financial support from the Bretton Woods institution.

Government counters criticism over slow revenue collection

In response to sceptical media coverage questioning the pace of revenue generation, Waly Diouf Bodian emphasized that the PRES is yielding between 15 to 20 billion CFA francs monthly. He highlighted that upcoming measures targeting land reforms and money transfers are expected to accelerate revenue growth in the coming months. The government’s performance will face scrutiny this Friday during a parliamentary session dedicated to assessing quarterly revenue progress against the benchmarks set in the finance law.