2023 Senegal Approved Budget Analysis

The approved Senegal budget for 2023 is a financial plan outlining the government’s spending plan for the year, including estimated revenues and expenditures. The fiscal year for the Senegalese government begins on 1st January and ends on 31 December of the following year.

The government plans to spend a total of CFA 5,141.9 billion (approximately USD 8,570 million), compared to CFA 4,702.9 billion in 2022, an increase of CFA 439 billion (+9.3%). Some of the provisions in the budget include support for energy and consumer goods products, peacebuilding, agriculture, infrastructure, education, health and health infrastructure, water, industry, the digital economy, and employment, especially for the youth under the XËYU NDAW ÑI, (youth employment) program, which is designed to prepare youths for jobs through internships, apprenticeships, vocational training, self-employment and entrepreneurship.

It is important to note that this year will usher in a new era for the country as an oil and gas producer while improving its fiscal situation. Senegal’s budget has traditionally relied heavily on foreign aid, with external assistance funding approximately 60% of the budget. The budget has a deficit of CFA 1,045.5 billion (approximately USD 1,743 million) in 2023.

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