The new government of Senegal has unveiled a series of measures aimed at reducing the cost of living in the West African nation. The measures, which include price cuts on rice, oil, bread, and other basic items, are set to take effect in the next few days.
“The reductions will cover cement and fertiliser, and will take effect in the next few days,” said Government Secretary General Ahmadou Al Aminou Lo.
President Bassirou Diomaye Faye, who was elected in March, had promised during his campaign to address the high cost of living in Senegal, where unemployment and inflation are rampant.
“Spending on food accounts for half a Senegalese household’s budget,” noted Lo, adding that the government would step up checks to ensure traders respect the new prices.
The price cuts, which include a 40 CFA reduction on a kilo of rice and a 15 CFA reduction on a baguette, are expected to cost the government 53.3 billion CFA (approximately $87 million).
According to Budget Minister Cheikh Diba, the government will forego taxes and customs duties imposed on importers to subsidize the price cuts.
President Faye has vowed that profits from Senegal’s gas and oil resources, which began production this week, will be “well managed”.
The measures are a welcome relief for many Senegalese, who have been struggling with high living costs. As one resident noted, “The cost of living in Senegal has been a major concern for us, and we hope these measures will bring some relief.”
The government’s move is seen as a step in the right direction, but many are waiting to see how long the measures will apply.