Senegal’s PRES revenue collection sparks debate with IMF

Cheikh Diba, Senegal’s Finance Minister, recently disclosed to the National Assembly that the Plan de Redressement Économique et Social (PRES) had generated 63.4 billion CFA francs in revenue this year. These figures emerged during intense negotiations with the International Monetary Fund (IMF), prompting Waly Diouf Bodian, a key advisor to Prime Minister Ousmane Sonko, to defend the government’s economic performance.

PRES targets ambitious revenue goals amid fiscal scrutiny

The PRES, unveiled by Prime Minister Sonko on August 1, 2024, outlines a strategy to mobilize 5,667 billion CFA francs between 2025 and 2028. For 2026 alone, the government aims to secure an additional 762.6 billion CFA francs in revenue, as outlined in the initial budget law. So far, 63.4 billion has been collected, including 7.9 billion from customs duties, leaving nearly 700 billion CFA francs still to be recovered to meet annual targets.

The IMF is closely monitoring Senegal’s fiscal trajectory, which faces significant financial strain. The government’s ability to achieve its revenue targets plays a crucial role in ongoing discussions for a potential support program with the Bretton Woods institution.

Government counters criticism over PRES revenue pace

Critics, including some media outlets, have questioned whether the PRES can meet its ambitious revenue collection goals. In response, Waly Diouf Bodian emphasized that the plan generates between 15 to 20 billion CFA francs monthly, with upcoming measures targeting land revenue and money transfers expected to yield stronger results in the coming months.

The government’s performance on this front will be scrutinized during an upcoming parliamentary session, where lawmakers will assess the PRES’s actual revenue trajectory against the quarterly targets set in the budget law.