Waiting for oil As well as political unrest, Sall has led Senegal through economic challenges that included the Covid-19 pandemic as well as restrictions on Ukrainian grain and Indian rice imports.Those crises put a break on Senegal’s sustained growth, although it is picking up again.Gross domestic product (GDP) is now projected to reach an unprecedented 9.2 percent in 2024, driven by oil and gas development, according to government statistics.But government figures also show that the public spending to counter the crises, protect the most vulnerable and boost the economy increased debt from 40 percent of GDP in 2012 to 69.4 percent in late 2023.Economist Moubarack Lo acknowledges that the country’s transformation has “created a breeding ground for debt” but he argues that this was necessary to develop the infrastructure that “has changed the face of Dakar”.Others, however, argue the investment was at the expense of living conditions.”Macky Sall chose to invest in infrastructure and forgot about quality of life,” said economist Cheikh Bamba Diagne.Unemployment has risen from 10.2 percent in 2012 to around 20 percent in 2024, according to the ANSD.”There is no work in the country,” said mechanic Makhmadane Diouf, 38, despite Senegal’s rich mineral deposits.That is one reason that tens of thousands of young Senegalese have chosen to attempt the dangerous journey in small boats to reach Europe in search of a better life.
Source link
