Five months after Prime Minister Ousmane Sonko painted a bleak picture of Senegal’s economic situation, the Court of Audits released a report on Wednesday examining the management of public finances between 2019 and 2024.
The findings reveal significant budgetary and accounting irregularities.
Following the General Inspectorate of Finance (IGF) report published in September, the Court of Audits has now highlighted several financial discrepancies during the second term of President Macky Sall.
Among the key issues identified are irregular revenue allocations, opaque transfers of public funds, and substantial discrepancies in debt management.
The 57-page report states that budget revenues reached 16,160.8 billion CFA francs. However, outstanding receivables increased from 308.53 billion CFA francs in 2019 to 408.2 billion in 2024.
Additionally, the omission of 261.71 billion CFA francs in customs receivables raises concerns about the transparency of public finances.
The court also uncovered massive fund transfers to non-personalised state services (SNPE), totaling 2,562.17 billion CFA francs, with insufficient traceability. Among the specific deposit accounts examined, the Support Unit for the Implementation of Government Projects and Programs (CAP/Government) recorded disbursements of 1,343.58 billion CFA francs, some of which bypassed standard financial circuits.
The Economic and Security Interests Defense Program of Senegal (PDIES) also managed 303.03 billion CFA francs under poorly controlled conditions.
Regarding public debt, discrepancies were noted between loan amounts and figures reported by the public treasury. In 2023, a lack of traceability was observed for 696.7 billion CFA francs. The court further pointed out that certain expenditures financed by external resources exceeded budget forecasts by 563.76 billion CFA francs.
In September 2024, the government, citing the IGF report—a body under the Ministry of Finance and Budget—revealed that public debt, officially estimated at an average of 65.9% of GDP between 2019 and 2023, was in fact 76.3% of GDP. This places the central government’s debt, excluding the parapublic sector, at 15,664 billion CFA francs, or 83.7% of GDP, according to Prime Minister Ousmane Sonko. He emphasised that the new administration inherited a Senegal in dire financial straits, describing the situation as being at “rock bottom.”
“The previous authorities lied to the country and to our partners by falsifying public data and providing misleading figures,” declared the president of the ruling Pastef party, in power for the past ten months. He described the country’s financial state as “extremely dire.”
In response to these irregularities, the Court of Accounts recommends stricter traceability of revenues and expenditures, the elimination of improper accounting practices, and tighter control over deposit accounts.
It also stresses the need to align budget reports with WAEMU standards, particularly in ensuring greater transparency in fiscal spending.
AC/odl/lb/as/APA