Senegal's economy targets 7% growth

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Dakar - Senegal announced on Friday it will target economic growth of 7 percent a year by 2015, more than double its average of 3.3 percent over the last six years.

“The head of state expected that 2013 will be a year to relaunch the economy with a substantial growth rate,” the cabinet meeting statement said. “Our target is to reach 7 percent by 2015.”

To achieve that goal, Senegalese President Macky Sall urged his government to speed up economic reforms and lift all constraints on the business environment.

This week the International Monetary Fund said Senegal's economy is expected to grow by 4 percent in 2013, up from 3.5 percent the previous year, while inflation should remain below 2 percent.

The IMF, which has just completed a mission to review Senegal's policy support programme with the Fund, said the West African country must prioritise efforts to reduce its fiscal deficit and cut energy subsidies.

Sall said on Friday he would convene a meeting to discuss the state of public finances every three months. - Reuters


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