Situation extérieure du Sénégal : Une amélioration sensible pour 2024 (Bceao)
The Central Bank of West African States (BCEAO) released Senegal's external accounts for the year 2024 this Friday.
During the meeting, François Sène, the BCEAO's National Director for Senegal, stressed the importance of the balance of payments, which is a central tool for economic analysis and decision-making.
“It allows us to assess the country’s ability to finance its development, to identify sources of external vulnerability and to effectively guide economic policies,” he said.
Regarding the results for the year 2024, they “highlight a significant improvement in Senegal’s external situation, in an international context still marked by economic and geopolitical uncertainties,” Mr. Sène points out.
They reflect, in particular, “the first benefits of hydrocarbon production as well as the gradual easing of the costs associated with the massive investments made in recent years in this sector”, says the National Director of the BCEAO for Senegal.
Although these “positive developments” are encouraging signs, Mr. Sène stresses, however, that they “also call for caution”.
He emphasizes that hydrocarbon production offers real prospects for a lasting improvement in the country's external position. But, "provided that it is part of rigorous management and a clear economic strategy," he specifies.
According to François Sène, hydrocarbon production must be accompanied by sustained efforts in export diversification, strengthening competitiveness and enhancing national productive potential.
“This approach is also perfectly consistent with the major strategic option chosen by the highest authorities and constitutes a fundamental pillar of the Senegal Vision 2050 economic and social transformation plan,” he says.
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