Abdourahmane Sarr: LFR 2026 Sénégal Must Reflect Budget Execution

• Abdourahmane Sarr advocates for a Loi de finances rectificative 2026 Sénégal based on effective budget execution.
• He deems the projected public investment target of 2,249 billion FCFA for 2026 unrealistic, given current execution rates.
• Sarr recommends achieving a public deficit below 5% of GDP in 2026 to facilitate a return to 3% by 2027.
• He stresses the need for sincere budgetary information and full accounting of all state commitments, including energy subsidies.
• Sarr warns that while the TOFE is shared with the IMF, national institutions bear primary responsibility for the Senegalese people's interests.

the IMF is not the representative of the interests of the Senegalese people.

Following recent parliamentary discussions, Abdourahmane Sarr, the former Minister of Economy, Planning, and Cooperation, has advocated for a revised budget law, specifically the Loi de finances rectificative 2026 Sénégal, to be firmly rooted in the actual execution of the national budget. He argues that the projected level of public investments is unrealistic, citing specific figures, and suggests that achieving a public deficit below 5% of the Gross Domestic Product (GDP) in 2026 would solidify the path towards reaching a 3% target by 2027. This intervention comes after a period of intense debate within the National Assembly, which Sarr views as a testament to the country's democratic vitality.

Sarr attributes the current political dynamic, including the distribution of responsibilities between President Bassirou Diomaye Faye and President of the National Assembly Ousmane Sonko, as a predictable factor in the national discourse. Beyond these political considerations, he stresses the critical need for Senegal to establish a credible financing strategy and fully embrace its economic trajectory. He has consistently championed an LFR 2026 built upon demonstrable budget execution, proposing that the 2025 fiscal year serve as a benchmark for public investment planning.

A central concern raised by Abdourahmane Sarr is the persistent lack of transparency in the management of finances publiques Sénégal. He contends that the current opacity often necessitates external intervention to ascertain the true state of the national budget. This perspective aligns with the macroeconomic report issued by the Ministry of Economy in March 2026. That document, analyzing economic shocks observed in the first quarter, recommended a robust budgetary consolidation aimed at reducing the deficit to 3% of GDP by 2027.

Having actively participated in macroeconomic discussions between Senegalese authorities and international partners over the past two years, Sarr underscores the imperative for accurate and sincere budgetary information. He acknowledges that the Tableau des Opérations Financières de l’État (TOFE) submitted to the International Monetary Fund (IMF) contributes to this transparency requirement. However, he pointedly reminds that "the IMF is not the representative of the interests of the Senegalese people," asserting that this fundamental responsibility rests primarily with national institutions.

Abdourahmane Sarr's recommandations budgétaires critically examine the feasibility of current public investment goals. As of the end of September 2026, public investments totaled 1,031 billion FCFA, a decrease from 1,069 billion FCFA recorded during the same period in 2025. To meet the 2,249 billion FCFA stipulated in the proposed LFR 2026, an additional 1,218 billion FCFA would need to be executed in the final quarter. Sarr deems this target highly improbable, given that it surpasses the total investments made during the preceding nine months, unless concrete evidence can demonstrate its attainability.

Furthermore, Sarr calls for greater clarity regarding energy subsidies. He insists that all state financial commitments, irrespective of the timing of their payment orders, must be fully accounted for. He emphasizes the executive's duty to ensure the stability of the energy sector and to honor its financial obligations. In situations demanding urgent action, he notes that recourse to advance decrees could be a viable option, provided the necessary legal conditions are met.

Incorporating these considerations, Sarr believes, would allow for the establishment of a deficit level that accurately reflects the reality of Senegal's public finances and defines a credible consolidation trajectory. He suggests that a déficit public Sénégal 2026 below 5% of GDP, calculated based on a rebased GDP, is now within reach. Achieving this performance would significantly ease the return to a 3% GDP deficit in 2027, aligning with the country's stated fiscal objectives.

Beyond merely adhering to regional convergence criteria, such fiscal credibility would bolster Senegal's standing within the West African Economic and Monetary Union (UEMOA). This, in turn, would help safeguard the nation's capacity to secure refinancing on the regional market, thereby reducing reliance on external financial interventions. Abdourahmane Sarr's proposals underscore a strategic shift towards greater internal accountability and realistic financial planning for the Sénégal budget 2026 and beyond.

Lawyers advising clients on public finance, state contracts, or investment in Senegal should monitor the final provisions of the LFR 2026, as Abdourahmane Sarr's recommendations highlight potential shifts in budget execution, deficit targets, and transparency requirements, which could impact financial planning and regulatory compliance.

Source: Original reporting via Senegalese financial press