Publication: Senegal Economic Update, December 2014 : Learning from the Past for a Better Future
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Date
2014-12
ISSN
Published
2014-12
Author(s)
World Bank Group
Abstract
Gross domestic product (GDP) growth was
a disappointing 3.5 percent in 2013. It remained largely
unchanged compared to 2012, reflecting a decline in cereal
production and stagnation in the industrial sector. Services
continue to drive the economy. The economic outlook for 2014
was more positive, but poor rainfall and the Ebola outbreak
have forced downward revisions in GDP growth projections,
now expected to reach 4.5 percent. The plan Senegal emergent
aims to break with this trend, with a welcome focus on
higher economic growth. However, its ambitions may exceed
available resources and will likely depend on accelerated
reforms and a strong private sector response. This first
economic update begins with an overview of the macroeconomic
situation in Senegal, starting with a review of 2013 before
examining the initial results of 2014. After a brief look at
the challenges posed by unemployment and poverty, the report
turns to an assessment of the growth strategy. It presents
analysis of past performance since 1990 in order to
understand better what needs to be done differently. The
report concludes with a few recommendations.
Citation
“World Bank Group. 2014. Senegal Economic Update, December 2014 : Learning from the Past for a Better Future; Situation économique du Senegal : apprendre du passé pour un avenir meilleur. Senegal economic update;no. 1. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/21504 License: CC BY 3.0 IGO.”