Senegal’s government, led by Prime Minister Ousmane Sonko, unveils its 25-year development plan, "Senegal 2050," on Monday, October 14. The plan aims to reduce foreign dependency and debt, focusing on local resources and human capital. Sonko emphasized that past development models have failed and praised Japan’s success as a model for African countries.
The program seeks to reduce poverty, triple per capita income by 2050, and achieve annual economic growth of 6-7%. It will be structured around eight development hubs across the country.
Sonko also highlighted the poor state of public finances, revealing a higher budget deficit and public debt than previously reported. He accused the previous government of manipulating financial data, a claim they denied. Meanwhile, credit rating agency Moody’s downgraded Senegal's rating.
