DAKAR, June 13 (APS) – Every day newsletters obtained by APS on Thursday cope with a wide range of subjects, together with the burden of public debt in Senegal and the prospects and implications of exploiting hydrocarbons, after Senegal introduced on Tuesday the manufacturing of its first barrel of oil.
A number of newspapers are involved concerning the state of Senegal’s financial system in gentle of the newest World Financial institution report, in keeping with which Senegal’s public debt weighs “at 80.8% of GDP”, as reported by the each day Les Echos.
“Complete public debt is projected to achieve 80.8% of GDP in 2023, in comparison with 76.0% in 2022,” mentioned Supply A, which is added each day, primarily based on World Financial institution analyses.
“This improve […] The primary purpose is the overfinancing of the 2023 price range at 4.6% of GDP,” explains the Every day Tribune, citing a World Financial institution report. The paper then asks: “Debt burden at 80.8%, Senegal at risk?”
As an antidote, the World Financial institution “has prescribed tax reform and a private earnings tax”, responds Base B le Jour. “It’s an order that can value Senegalese very dearly”, feedback the identical newspaper, in keeping with which the worldwide monetary establishment has “welcomed the ‘resilience’ of the Senegalese financial system” regardless of the crises.
Senegal’s financial outlook stays “typically optimistic” with “gradual near-term development” [qui] It ought to speed up to achieve 7.1% in 2024,” specifies the each day Libération, publishing a forecast from the identical World Financial institution report.
The primary drops of oil, “a historic second”
Additionally, newspapers have introduced that Prime Minister Ousmane Sonko ought to announce this Thursday the measures adopted by the federal government to cut back the price of residing.
The discount in costs of fundamental requirements will likely be efficient from right this moment. On the assembly of the Council of Ministers yesterday, Wednesday, the Prime Minister, on the request of the Head of State, introduced measures regarding some fundamental requirements. […] It will likely be made public this Thursday, June 13, 2024,” signifies Sud Quotidien.
As Base B Le Jour reviews, the minister, Ahmadou El Aminou Lo, Secretary-Basic of the Authorities, holds a press briefing at 11 a.m. to announce the measures adopted. Based on Les Echos, “These measures relate to facilitating entry to sure important foodstuffs, client services, and housing.”
Aside from the drop in the price of residing, a theme that has been famous by most Senegalese households for a few years, Senegal’s official entry into the circle of oil producing nations nourishes all of the hopes of a greater future for the individuals.
The Woodside oil firm liable for working the Sangomar subject, situated a couple of hundred kilometers off the coast of Dakar, Senegal, introduced on Tuesday that it had produced its first barrel “in full security.” This information marks Senegal’s official entry into the group of oil producing nations.
Following this announcement, “President Bassirou Diomie Faye acquired a pattern of the primary drops [de pétrole]this Wednesday, on the event of the Council of Ministers, ”reviews Le Soleil. “It’s a historic second,” the newspaper mentioned.
On this topic, he mentioned that the Head of State invited the Authorities to “make sure the optimum and clear exploitation of oil and gasoline assets for the advantage of the nationwide financial system and current and future generations”.
Prime Minister Ousmane Sonko, for his half, known as for vigilance, “insisting on securing manufacturing and stopping environmental dangers,” the each day L’Ezz reported.
“After extracting the primary barrels of oil from Sangomar, Senegal plans to market its hydrocarbons,” says the newspaper Le Quotidien.
“Ought to the oil contract be renegotiated or not”
Vox Populi reviews statements by Woodside President and CEO Meg O’Neill, assuring that the standard of crude oil from the Sangomar subject is “just like that of Oman and Johan Sverdrup (Norway)”.
Ms O’Neill estimates that ‘crude’ [sénégalais] It will likely be processed primarily by refineries in Europe and Asia. “The 2 first uncooked supplies have already discovered consumers,” Woodside’s CEO revealed, in keeping with Vox Populi.
“Behind the keenness generated by this success is the equation of the distribution of Senegal’s revenues, specifically the actual share”, writes Sud Quotidien, the each day Enquet, including that with its first barrel, “Senegal can thus hope to consolidate its place in African and international geopolitics”
Additionally taking the chance to return to the query of renegotiating oil contracts with the Every day Critique, the newspaper puzzled whether or not it was essential to spit on the “700 billion” CFA francs that Senegal, at this stage, ought to obtain every year from hydrocarbon exploitation.
“Influx of latest cash, enhance [pour] Monetary windfalls to help the nationwide financial system, rising currencies and rising tasks, Senegal’s historic re-entry into the very restricted circle of oil producers raises huge expectations,” the publication writes.
Critic’ says the primary barrel produced by Woodside “additionally raises important questions, probably the most related of which is the attainable revision of the contracts linking Senegal to the oil giants. Ought to we renegotiate the contracts or accept 700 billion per yr? Diomie has oil in his engine.”
Besides that Serigne Mboup, the previous basic supervisor of Senegal’s state-owned oil manufacturing firm Petrosen, seems to advise in opposition to renegotiating these contracts, though he led the primary negotiations and initiated the primary agreements.
Serigne Mboup “warns concerning the dangers of renegotiating contracts and advises the brand new authorities to depend on oil assets for Senegal to reach its financial sovereignty program,” mentions L’Observateur.
BK/SMD