Senegal: Selected Issues

January 28, 2019

Preview Citation

Format: Chicago

Senegal: Selected Issues, (USA: International Monetary Fund, 2019) accessed December 21, 2024

Summary

This Selected Issues paper estimates the macroeconomic impact of these discoveries and discusses potential fiscal frameworks for managing related revenues. Pre-production investment (2019–2021) will lead to an increase in the current account deficit; however, this will be followed by a boost to exports as hydrocarbon production comes online (2022 onward). Discoveries are important but will not lead to a major transformation of the economy, with hydrocarbons expected to make up not more than 5 percent of GDP. Fiscal revenues would average about 1.5 percent of GDP over a 25-year period and about 3 percent of GDP when production peaks. Given the relatively small gains in revenue, IMF staff recommends a fiscal framework that allows for an initial drawdown of government resources to finance large up-front investment needs, followed by an appropriate target level of the non-resource primary balance which is to serve as a medium-term fiscal anchor. Issues related to managing the volatility of resource revenues are also discussed.

Subject: Commodities, Education, Gender, Gender inequality, Oil, Revenue administration, Women

Keywords: Cash transfer program, CR, Expenditure scheme, GDP, Gender inequality, Infrastructure investment, Investment efficiency, ISCR, Oil, Revenue, Senegal, Sub-Saharan Africa, Wage, Wage gap, Women

Publication Details

Pages:

46
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2019/028
Stock No:

1SENEA2019002
ISBN:

9781484396292
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports