Senegal's finance minister Cheikh Diba said on Tuesday the West African country had revised its 2026 growth forecast upward to 3.2% from 2.5%.
The economic ministry previously said growth was expected to slow to 2.5% this year from 6.7% in 2025 due to declining hydrocarbon production.
Senegal and the International Monetary Fund have been in talks to resolve the debt issue since the country's then-new leaders revealed the problem in 2024. Diba said the Senegalese government will meet the IMF team again by July 15.
The budget deficit is expected to fall to 4.9% of gross domestic product in 2027, 3.8% in 2028 and 3.0% in 2029, Diba said.
The deficit was previously expected to return to the West African regional ceiling of 3% of GDP in 2027.
Senegal has faced economic challenges since the discovery of around $13 billion in misreported debt attributed to the previous administration.
The country will maintain fiscal discipline, essential for regaining the confidence of lenders, Diba said.
For the period of 2027 to 2029, the economy's total financing needs are estimated at 19.69 trillion CFA francs ($34.44 billion), or an annual average of 6.56 trillion CFA francs ($11.47 billion).
Senegal plans to mobilize more resources through public-private partnerships, revenues from hydrocarbon production and deals with Arab and Asian countries. It will advocate for flexible conditions and simplified disbursement procedures.
($1 = 571.7500 CFA francs)