Somalia: Economic Update

The new authorities' desire to strengthen transparency and public financial management is an opportunity to bolster Senegal's positive medium-term economic outlook.This outlook is, however, contingent in the short term on a commitment to fiscal consolidation and the implementation of transformative reforms that underpin macroeconomic stability," noted Keiko Miwa, World Bank Country Director for Senegal.The fiscal deficit reduction target for 2023 was achieved, resulting in a deficit of 5.1% of GDP, slightly above the target of 4.9%.A number of factors, including the increase in tax revenues, contributed to the deficit.