Senegal is one of the more stable countries in Africa.  The democracy is functioning well and the country is liberalizing its economy at a steady pace.  However, Senegal remains relatively undeveloped in comparison to most countries.  The UNDP ranks Senegal at 156 of 177 countries in terms of its social and economic development. The Senegalese economy has grown steadily since 2001.    In 2005, the gross domestic product reached US$ 8.3 billion, an increase of 5.5% compared to 2004.  The GDP growth rate has increased in recent years, with a peak of 6.7% in 2003.  Nonetheless, during the last 5 years, the Senegalese economy has experienced economic growth rates that were below Africa and the world.