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ECONOMY
Senegal is relatively a poor economy. There is not much natural resources in
Senegal. Phosphates and Iron ore are the main mining items but the
phosphates market has to meet too much competition in the world market.
But against the backdrop of this weak economic
scenario, Senegal undertook some courageous steps to revamp its economy. This ambitious reformation
program was supported by international
donor communities. The devaluation of the
CFA was followed by stripping off price
controls and subsidies to various sectors by the government. The economy was open to private investments. The reforms had wonderful impact in the
economy; annual inflation dropped and fiscal deficit was cut down. Investments showed steady rise from 13.8% in
1993 to 16.8% in 1997. More than 82% of
the GDP now generates from private entrepreneurs.
Economic integration of
west African states including Senegal being the prime objective of
ECOWAS, Senegal is in the forefront for achieving greater regional integration and
a unified external tariff.
Senegal is the only country in west Africa to
achieve total internet connectivity. In
fact there is a boom in Senegal in Info-Tech based services.
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Capital: Dakar
Area: 196 200 km²
Population: 8 532 000
Currency: 1 US$ = 600 CFA
GDP: 134/1 596$
HDI : 160/326
CPI : 55/3.3
Languages: French, Wolof, Fulani, Serer, Dioula
Ethnic groups: Wolof 44%, Fulani & Tukulor 24%, Serer 15%, Diola
5%, Malinke 4%
Religions: Muslim 90%, Christian 6%, Animist 4%
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