Analysis by Region - Emerging Markets - Senegal

Analysis by Region - Emerging Markets - Senegal

We have shaved off 0.1 ppt from our 2023 GDP growth forecast due to a slump in mining activity. We now expect the Senegalese economy to grow by 5.9% this year. The hydrocarbon sector has reportedly hit a few snags and we are unlikely to see any major hydrocarbon projects coming on stream this year. However, our forecasts assumed an uptick in production only towards the end of Q4 2023, and these delays will not necessitate any major revisions to our forecasts. We expect the economy to grow by 8.7% next year, driven by the development of the hydrocarbon sector.