In a decisive move aimed at revitalizing Senegal’s economy, President Bassirou Diomaye Faye has issued a directive to his prime minister, Ousmane Sonko, to develop an urgent “action plan” addressing the country’s economic challenges. Faye’s directive comes shortly after his election victory last month, where he pledged sweeping reforms despite his lack of prior elected office.
During his first cabinet meeting, President Faye instructed Prime Minister Sonko to conduct a comprehensive review of existing programs and plans, focusing on the state of public finances, international cooperation, and public-private partnerships. The president emphasized the need for a bold and immediate policy to jumpstart the national economy, urging collaboration with the Senegalese private sector.
Faye underscored his commitment to effecting profound changes across all sectors of the economy and society, emphasizing the urgency of transformation. With approximately one in three Senegalese living in poverty and an unemployment rate of around 20 percent, addressing economic disparities is a pressing concern.
Senegal’s economy has also been adversely affected by the COVID-19 pandemic and the ongoing conflict in Ukraine. High levels of debt and inflation, coupled with social and political tensions over the past few years, have hindered investment and economic growth.
Prime Minister Sonko, in unveiling his cabinet, outlined key priorities, including youth employment, reducing the cost of living, and upholding human rights. These priorities align with President Faye’s vision for comprehensive reform and economic revitalization.
As Senegal embarks on this ambitious economic agenda, President Faye’s leadership signals a proactive approach to addressing the country’s economic challenges and fostering sustainable development. By engaging both the public and private sectors, Senegal aims to navigate through current obstacles and pave the way for a brighter economic future.