Senegal’s economy and gross domestic product (GDP) are set to grow in 2024 driven by the exploitation and monetization of hydrocarbon resources, a new World Bank report has stated. Senegal is set to record a 9.9% growth in its economy in 2024 owing to strong industrial production which will be driven by the oil and gas sector and other factors including a favorable institutional environment, optimal use of public-private sector partnerships to finance projects, increased foreign direct investments in energy projects and a reduction in global commodity prices, states the World Bank’s Senegal Economic Update.
