Senegal has updated its GDP calculation, revealing a stronger economic picture and improved debt metrics amid scrutiny over previously unreported liabilities. The National Agency for Statistics and Demography revised the base year from 2014 to 2021, raising GDP by 13.5% to approximately $30 billion and reducing the public debt ratio from 90.8% to 80% for 2021.
The recalculation accounts for emerging sectors such as digital finance, oil and gas, and cashew production, providing a more accurate picture of economic activity.
The move follows a credit rating downgrade by S&P Global, which had flagged Senegal’s debt-to-GDP ratio nearing 120%. The update aims to restore investor confidence as the country navigates debt challenges and ongoing IMF engagement.
