Senegal president sees growth at 13.7% by 2023 thanks to oil, gas
- 29 Sep 2020
Senegal's President Macky Sall said on Tuesday he expects the West African nation to soon achieve double-digit economic growth for the first time from 2023, with an expansion of 13.7% predicted, as oil and gas exploration boosts activity.
Oil was discovered in Senegal in 1961, but reserves big enough for commercial exploitation have been found only in recent years.
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"According to our projections, the economic recovery (will) allow us to return to a GDP growth of around 5.2% in 2021," Sall told an economic forum in Dakar, adding that 2022 growth was seen at 7.2%.
"In 2023, if all conditions are met, for the first time Senegal will achieve double-digit growth projected at 13.7%. This is simply due to the exploitation of oil and gas from 2023," he said.
Reuters