Budget 2026 : Hausse de 23,4% des recettes, défi du déficit et pression fiscale record
Senegal's 2026 Finance Bill (PLF) sets out a budgetary ambition marked by a sharp increase in revenue and consolidation efforts. All key figures reveal a dynamic growth in budgetary resources, while highlighting the scale of the challenges, particularly the debt burden and the deficit reduction target.
The explosion of revenues and the improvement of tax pressure
The total budget for 2026 is set at significantly higher amounts than the previous year. Revenue is projected at 6,188.8 billion CFA francs, compared to 5,014.3 billion CFA francs in 2025, representing a spectacular increase of 1,174.5 billion CFA francs in absolute terms and 23.4% in relative terms.
This increase is mainly driven by tax revenues, set at 5,384.8 billion FCFA, an increase of 1,025.2 billion FCFA compared to the 2025 LFI. This performance is attributed for 703.6 billion FCFA to revenues from the Economic and Social Resilience Program (PRES).
As a result, the tax burden rate is expected to reach 23.2% in 2026, compared to 19.3% in 2025, a significant jump which reflects the State's desire to increase its internal financing capacity.
Controlled spending and macroeconomic objectives
The expenditure of the draft finance law amounts to 7,433.9 billion FCFA, an increase of 12.4% compared to 6,614.8 billion FCFA in 2025.
The macroeconomic assumptions underpin a policy of budgetary consolidation:
Budget Deficit : It is targeted at 5.37% of GDP in 2026, with the objective of convergence towards 3% of GDP in 2027, in compliance with UEMOA criteria.
Economic growth : A GDP growth rate of 5% is anticipated, mainly supported by the primary sector (+6.1%) and the tertiary sector (+5.4%).
The State is banking on streamlining operating expenditures, which translates into a decrease in expenditures on the acquisition of goods and services and current transfers of 280.5 billion FCFA, to reach 1,650 billion FCFA. Conversely, capital expenditures on internal resources have seen a sharp increase of 568.9 billion FCFA, reaching 1,448.9 billion FCFA, mainly thanks to the expected revenues from the PRES.
The increased burden of debt
Despite the increase in revenue, the cost of debt is weighing on the budget. Interest and commissions on public debt increased by 258.5 billion CFA francs, reaching 1,190.6 billion CFA francs.
The overall budget deficit stands at 1,245.1 billion FCFA (compared to 1,600.5 billion FCFA in 2025). The basic budget balance improves significantly, going from -678.5 billion FCFA to -81.6 billion FCFA, reflecting the effort to cover almost all expenditures through internal revenue.
The financing requirement for 2026 is colossal, reaching 6,075.2 billion FCFA. It is mainly composed of debt amortization (repayment of principal), which amounts to 4,307.4 billion FCFA, or 70.9% of this total requirement. It is therefore mainly the refinancing of previous debts that justifies this high recourse to debt.
Commentaires (18)
Bonne continuation....
On peut ne aimer ce gouvernement, mais un peu d’objectivité, d’honnêteté intellectuelle montre que du travail est fourni, et à moyen long terme les résultats vont commencer à s’apercevoir.
Vive le Sénégal !
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