These lessons are documented in the 2003 and 2004 Annual Progress Report (APR) of PRSP-I, which were reviewed in joint staff advisory notes in December 2004 and November 2005 (www.imf.org, www.worldbank.org). The analysis of implementation and progress in 2005 has not been presented in a standalone APR, but included in the PRSP-II.
The most recent comprehensive analysis of poverty in Senegal is based on data from the household survey of 2001–02.
Poverty indicators are projected according to estimated elasticity parameters and the observed growth of real GDP per capita. The projection assumes constant elasticity of -1.38 between poverty reduction and growth between 1994 and 2005.
The basic fiscal balance is defined as total revenue minus total expenditure, excluding externally financed capital expenditure and HIPC/MDRI expenditure.
The decline in economic activity is mainly due to the negative impact of the increase in international oil prices and the bankruptcy of the largest industrial company (ICS—Industries Chimiques du Sénégal).
The five sectors include agro-industry, fisheries, electronic customer support services, tourism, and textiles.