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Senegal’s Finance Minister dismisses reports of “cash flow tensions”

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The Senegalese Ministry of Finance and Budget refutes news citing “cash flow problems” at the level of the State and the accumulation of arrears due to public works contracts.

“The 2019 budget execution process is proceeding normally with a correct recovery of revenue and a satisfactory management of expenses,” the Ministry of Finance said.

Regarding the expenditure financed with internal resources, since 15 April 2019, a total amount of 491.944 billion CFA francs was mobilized to take care of expenses of personnel for 146.490 billion CFA francs and for the service of public debt, which is up to 117.216 billion CFA francs, the Ministry added.

The remaining 228.239 billion CFA francs were used to pay service providers and accounts due to companies carrying out work on public investment projects and programs, the Ministry of Finance went on.

With regard to externally financed expenditure, the Ministry informs that since 15 April 2019, a total amount of 67.1 billion CFA francs has been paid, of which 28.2 billion CFA francs for the construction sector and TER (Express Railroad Project).

To date, the evaluation criteria of Senegal’s Economic and Financial Program, including the quarterly ceiling (maximum) amount defined for payment bodies and the floor (minimum) amount for social spending, are respected, according to the Ministry.

In the end, the ministry concludes, all the expired expenses are taken into account by our competent services.

 – APA

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