The text has been on lawmakers’ desks since September 18, and it may well be the most uncomfortable vote of this legislature. As they examine the 2026 revised finance bill, the Pastef majority faces a choice between two unappealing options: approve a budget tied to the agreement with the IMF, or risk being accused of paralysing the state. The fallout from this dilemma is already shaping public debate, and every answer carries a political cost.

At its core, the revised finance bill redraws the year’s accounts in significant ways. The budget deficit is now projected at 1,735.2 billion CFA francs, or 7.6% of GDP, up from an initial 5.4%. The government attributes this deterioration mainly to rising subsidies for the energy sector, the absorption of new priority spending, and lower-than-expected revenues.

Energy accounts for the bulk of the shock. The envelope earmarked to support the sector jumps from 250 billion to 790.3 billion CFA francs, an increase of 540.3 billion. At the same time, expected revenues fall to 5,848.7 billion CFA francs, 340.1 billion less than the 6,188.8 billion forecast in the initial finance law. The executive justifies the revision by pointing to the effects of the global energy crisis and a rainfall deficit.

To contain the drift, the text sacrifices investment. The government plans to cut 555 billion CFA francs from investment, split between domestic and external resources. In return, some social safety nets are strengthened: funding for family security grants rises from 35 billion to 70 billion CFA francs. Finally, the authorities aim to bring energy subsidies below 1% of GDP by 2029, while better targeting vulnerable households. It is this last orientation that crystallises concerns about the price of electricity and fuel.

Approval: endorsing the deal the government once criticised

This law is not a mere accounting adjustment. It comes after the agreement reached between Senegal and the IMF, which remains subject to approval by the Fund’s Board. The staff-level agreement covers $2.2 billion over 36 months. And the IMF mission chief for Senegal, Mercedes Vera Martin, has been…