Senegalese opposition leader Ousmane Sonko announces the ‘Senegal 2050’ program, a visionary plan aimed at transforming the nation’s socio-economic landscape over the next three decades.
On Monday, October 14, Senegal’s government under Prime Minister Ousmane Sonko introduced its “Senegal 2050” development initiative. This ambitious plan spans the next 25 years and seeks to minimize foreign dependency and debt by prioritizing local resources and human capital. Highlighting that previous development strategies have been unsuccessful, Sonko applauded Japan’s achievements as an exemplary model for African nations.
The initiative aims to alleviate poverty, increase per capita income threefold by 2050, and accomplish an annual economic growth rate of 6-7%. It will be organized around eight development hubs throughout the nation.
Sonko pointed out the deteriorating condition of public finances, unveiling a budget deficit and public debt that were greater than initially reported. He accused the former government of falsifying financial data, which they denied. During this period, credit rating agency Moody’s downgraded Senegal’s credit rating.
