Major Price Cuts: Senegal’s New Government Reduces Cost of Food and Cement

Senegal’s newly elected government has taken action to address the increasing cost of living in the country.

In an effort to alleviate the burden on its citizens, the government has announced a series of price cuts on essential commodities such as rice, oil, and bread.

President Bassirou Faye, who assumed office after the March election, had made a promise during his campaign to tackle the high living costs that have been affecting the nation. The cost of living issue has gained significant attention in the media and on social platforms, underscoring its urgency for many Senegalese citizens.

The government’s measures include a 40 CFA ($0.065 or 0.061 euros) reduction in the price of a kilogram of rice, as well as a 15 CFA (0.023 euros) decrease in the price of a baguette.

These price cuts will also apply to cement and fertilizer and will be implemented in the coming days.

Ahmadou Al Aminou Lo, the government’s secretary-general, has assured that there will be increased monitoring to ensure compliance with the new pricing.

Budget Minister Cheikh Diba explained that the government will cover the cost of these price cuts, amounting to 53.3 billion CFA (more than 81 million euros or $87 million), by waiving taxes and customs duties for importers.

The government has not specified the duration of these measures. This initiative is particularly crucial as a significant portion of Senegal’s population lives in poverty, and unemployment stands at around 20 percent.

Furthermore, Senegal has recently joined the ranks of oil-producing nations, with Woodside Energy commencing production in the country’s first offshore project.

President Faye has pledged that the revenues from Senegal’s gas and oil resources will be managed responsibly.