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SPOTLIGHT


JOBS,


OPEC Fund Quarterly: Please briefly outline Senegal’s main development priorities. Amadou Hott: Since 2014, the government of Senegal has implemented the Plan Senegal Emergent (PSE) in order to achieve emergence by 2035. Under the President of the Republic Macky Sall, Senegal has achieved a historically dynamic economic expansion while improving the welfare of the population. Today, productivity gains, a determining factor in the process of structural transformation, are improving markedly, which the government is seeking to consolidate to form the basis of a resilient and inclusive economy. For the second phase of the PSE, the main development priorities are: (i) eradicating poverty and reducing inequality in all its forms; (ii) infrastructure catch-up; (iii) improving central, decentralized and local governance; (iv) the gradual reduction of the informal sector; (v) the development of human capital and the capture of the demographic dividend.


OFQ: How important are relationships with development actors such as the OPEC Fund to progress in Senegal? AH: The aim of the PSE II (2019-23) is to increase transformative public and private investment. With financing needs of 14,098 billion CFA francs (US$24.2 billion) for the PSE II, establishing a credible partnership and effective cooperation with donors will be key to


32


SUSTAINABILITY SOURCES OF AND


GROWTH


An interview with Amadou Hott, the Republic of Senegal’s Minister of Economy, Planning and Cooperation


successfully implementing our priority projects and programs, including for industrialization, economic diversification, social inclusion and sustainable development. There are areas where the OPEC Fund’s support could be key, such as financial support to accelerate the mobilization of resources to transform our agriculture sector, promote industrial parks, invest in infrastructure projects and expand the logistics base; and support for the development of SMEs to create jobs [see below for more detail] and achieve higher and more inclusive growth.


OFQ: Please outline the role of the public and private sectors in supporting the socioeconomic development of Senegal. AH: Strong economic growth, combined with the implementation of social programs, have led to a significant reduction in the incidence of poverty, estimated at 35.6 percent in 2017. This is below the average for sub-Saharan Africa and compares to 46.7 percent in 2011. Examples of our social programs are as follows: • Universal Health Coverage (Couverture Maladie Universelle, CMU);


• the National Family Security Scholarship Program (Bourse Nationale de Sécurité Familiale, BNSF);


• the Emergency Program for the Development of Secondary and Border Towns (Programme d’Urgence de Modernisation des Axes et


Territoires Frontaliers, PUMA);


• the Community Development Emergency Program (Programme d’Urgence de Développement Communautaire, PUDC);


• and programs to support women’s empowerment, job creation for young people and investments in the agriculture sector.


However, the government is aware that the large-scale creation of viable private jobs is the best way to promote wellbeing for all and to break the intergenerational transmission of poverty. In this regard, the government alone cannot mobilize the necessary resources without risk for macroeconomic stability. In addition to efforts to increase domestic revenues, there is a need to ensure effective private sector participation in development financing. To do this, the government will focus on public- private partnerships and innovative financing instruments. Government efforts are underway to support a systematic technical and financial structuring of projects, with a view to facilitating ownership by the private sector. The government is also accelerating reforms to increase access to finance and improve the business environment, expand the productive base of the economy, increase internal resources without harming productive investment, and support people’s participation in development actions to strengthen the social contract.


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