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Senegal

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SENEGAL'S GDP GREW AT A RATE of 2.1 per cent in 2006 and 2.8 per cent in 2007, well below previous forecasts. This was due to a number of factors. First, the crisis experienced by Industries chimiques du Sénégal (ICS), the country's largest phosphates producer, was still unresolved. Second, higher levels of prices for oil products have continued or even worsened, affecting state subsidies, price levels and the budget deficit. In addition there was poor rainfall and a weak system for marketing groundnuts. As a result of the combination of these factors,most of the country's traditional export sectors (fish products, phosphates, groundnuts) experienced stagnation or are in serious economic difficulties, with Senegal losing substantialmarket share compared with all its competitors.
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Document Type: Review Article

Publication date: May 1, 2008

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