According to the Monetary Policy Committee (MPC) of the Central Bank of The Gambia the domestic debt has grown from 38 thousand million dalasi (D38 billion) to forty one thousand million dalasi (D41 billion).
The domestic debt is usually utilized as budget support, as budget deficit continues to prevail.
Interestingly enough the fiscal policy of the government relies mainly on taxation as a revenue to meet its expenditure.
In a country where the poverty index reveals that 53.4 percent of the population are living below the poverty line the reliance on taxation would only add to the suffering of the people
The payment and servicing of debts continues to consume the largest percentage of budgetary expenditure, amounting to 11 thousand million dalasi (D11 billion).
