Public Management

Senegal announces additional measures to combat rising cost of living

Tuesday, 27 September 2022 16:45
Senegal announces additional measures to combat rising cost of living

(Ecofin Agency) - In the WAEMU region, Senegal has one of the highest inflation rates, with 11% recorded in July. To curb such price rises, local authorities have taken subsidy measures, which are yet to have the desired effects. 

Senegal will take additional measures to curb inflation, President Macky Sall announced during a consultation on Monday (September 26). The said consultation was held with government officials, employers’ representatives, and traders to reflect on the rising cost of living. 

According to the Head of State, the main objective of these measures will be to increase residents’ purchasing power and promote local consumption. The measures include accelerating the payment of US$22 million in compensation to millers and the payment of paddy rice subsidies amounting to XOF30 per kilogram. 

The new measures also include suspending excise duties on imported fats and cooking oil, opening negotiations with the Indian government on rice imports, and fixing congestion at the Autonomous Port of Dakar. A thousand young volunteers will also be enrolled to ensure better control of the prices set by the government.

The additional measures are announced amid an inflationary crisis that prompted  West African countries to adopt important measures to support the economy. In July 2022, Senegal recorded an 11% inflation, which is about four times higher than the 3% convergence criteria in the WAEMU region. The country’s inflation was also well above the regional average (8.1%) at the time. 

A few months ago, the government decided to lower the prices of some essential foodstuffs to preserve purchasing power. However, these measures were not enough to stem the inflationary crisis.

Although the main reason frequently given in the region to explain this phenomenon is the war in Ukraine, a report by Ecofin Agency demonstrates that the problem is actually more complex. 

Moutiou Adjibi Nourou  

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.