Senegal government go announce plan to break away from foreign dependence and debt on Monday, according to Prime Minister Ousmane Sonko. This new plan dey focus on using local resources and human capital instead of relying on foreign aid and debt.
Prime Minister Sonko make this announcement during his visit to a vocational training centre that Japan help set up. He use Japan as example, saying Japan develop well even though dem no get plenty natural resources. “The Japanese model be ideal for our African countries. We prefer to learn how to fish rather than continue to receive fish,” Sonko say.
Senegal get plenty natural resources like oil, gas, minerals, and fish stocks, but dem still be one of the least developed countries in the world. The new development programme, which dem call “Senegal 2050,” go cover the next 25 years and aim to reduce poverty, triple per capita income by 2050, and achieve annual economic growth of six to seven percent.
The development model go be structured around eight development hubs across the country. Sonko describe Senegal’s economic situation as “catastrophic” at the end of September after a government review of public finances. The budget deficit stand at 10.4 percent of GDP, and public debt stand at 76.3 percent of GDP, which be higher than what the previous government announce.
Sonko accuse the former administration under President Macky Sall of manipulating financial figures and lying to foreign partners, something the previous administration deny. Just last week, Moody’s downgrade Senegal’s credit rating and place the country under review.
In terms of politics, Sonko has yet to deliver his general policy speech, and the first six months of the government have been marked by confrontations with an opposition-dominated parliament. President Bassirou Diomaye Faye dissolve the national assembly in September and call for snap elections on November 17.
