SENEGAL: HYDROCARBON REVENUES TO FUND EXPANSIONARY PRE-ELECTIONS BUDGET

   Tue, 21 February 2023

One year out from the next presidential election, Senegal’s political climate faces tests of violent unrest over legal charges against the main opposition leader and the president’s rumoured third term ambitions. The country’s extractive sector and renewable energy projects are mostly shielded from such risks and Senegal’s economy is set to take off from this year, which will allow the government to fund socio-economic relief measures and maintain costly subsidies. To eventually phase out subsidies, the government will favour gas-to-power over renewables, which will drive a shift to hydrocarbons and rebalance the export base, which is positive for debt sustainability.

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