Senegal’s new government, under the leadership of President Bassirou Diomaye Faye, has unveiled a new set of measures meant to reduce the cost of basic commodities and staple foods in the country and address cost-of-living and inflation concerns.
President Faye, 44, who won unchallenged in Senegal’s March election, vowed during the campaign to address high living costs in the West African nation that heavily relies on imports, promising voters that he will prioritize the cost of living within his first few months in office. Under the new measures, prices of select basic commodities and food items have been reduced by between KSh5.00 and KSh18.00 (converted from Senegalese currency), the government has announced in a media conference.
The reductions, which also cover cement and fertilizer, will take effect in the next few days, government secretary general Ahmadou Al Aminou Lo has told reporters, adding that the government will be stepping up random checks to ensure traders comply fully when the new prices take effect.
Senegal’s Budget Minister, Cheikh Diba, during the media announcement, revealed that the government would also forego taxes and customs duties imposed on importers to subsidize the price cuts, expected to cost at least $87 million. The government, however, has not revealed how long the measures would apply.
“The measures are meant to cushion the ailing economy until we find a sustainable and long-lasting solution to the cost of living for the people of Senegal,” says a statement from President Faye.
