Senegal’s economy is projected to grow by 8.0% in 2025, marking a significant jump from 6.1% in 2024 and 4.3% in 2023, according to the 2024–2025 Economic and Financial Report released by the Ministry of the Economy.
The anticipated growth surge is largely driven by the full exploitation of the country’s oil and gas resources, with hydrocarbon production expected to rise from 16.9 million barrels in 2024 to 30.5 million barrels in 2025, contributing 3.8 percentage points to national growth.
The secondary sector is forecasted to expand by 18.7% in 2024, while agriculture is set to recover in 2025 after climate-related setbacks, with primary sector growth projected at 7.2%.
While inflation has eased—dropping to 0.8% in 2024 from 5.9% the previous year and expected to stay around 1.0% in 2025—Senegal continues to face fiscal pressures.
The budget deficit is projected to narrow from 13.4% of GDP in 2024 to 7.8% in 2025, with public debt slightly decreasing to 117.5% of GDP. The current account deficit is also expected to shrink, aided by a 19% boost in exports, especially hydrocarbons and gold.
Despite the positive outlook, the government warns that external shocks, including geopolitical instability, oil price fluctuations, climate risks, and social tensions, could significantly impact growth, stressing the need for cautious management of oil revenues and structural reforms to ensure long-term economic stability.
