Senegal Fuel Subsidy Costs May Exceed Budget by $2 Billion
Finance Minister Cheikh Diba warned that fuel subsidies could reach 1.39 trillion CFA francs if oil hits 115 dollars per barrel. The government plans to resume IMF funding talks in June while seeking alternatives to debt restructuring to manage its 13 billion dollar debt burden.
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Senegal faces a fuel subsidy bill that could exceed its budget by $2 billion if oil prices reach $115 per barrel. Finance Minister Cheikh Diba announced the projection on Friday as the government grapples with $13 billion in unreported debt discovered in 2024. The fiscal strain threatens to consume 20% of the national budget, complicating efforts to stabilize the $40 billion economy.
