Senegal uses 10% of its budget to fight inflation

Inflation

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The Senegalese government has mobilized 620 billion CFA francs (about $922 million), or 10% of its national budget, to deal with inflation since March, according to the country’s Minister of Trade and SMEs, Abdou Karim Fofana. .

Of this overall amount, “300 billion CFA francs of subsidies for fuel, electricity and gas as of September 30, 2022, have been injected into the country”, he declared Thursday during the 21st session of the annual economic meeting of the Senegalese Business Movement (MEDS) in Dakar, the capital of Senegal. MEDS is an organization that represents more than 1,000 companies of all sizes and from all sectors of the economy.

Fofana also indicated that the 157 billion CFA francs in tax revenues were suppressed to avoid the increase in the cost of rice, wheat, corn and sugar, the 120 billion CFA francs to increase the salaries of civil servants, and 43 billion CFA francs in cash transfers to support 543,000 vulnerable families.

According to him, the government is aware that more actions will be needed with the support of the private sector and companies, to achieve recovery and adapt to the global crisis. Final article

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