By: Kebba AF Touray
The Gambia’s Minister for Finance and Economic Affairs, Seedy Keita, has said that total revenue and grant is expected to increase to Thirty-Four Billion Nine Hundred and Thirty-Two Million, Seven Hundred and Thirty-Five Thousand Dalasi (D34,932,735,000.00).
Minister Keita revealed this as projected in the 2024 Citizen’s Budget, on which document the Ministry, in collaboration with the CSOs, held a dialogue to enable people know what is contained in the financial situation of the Gambia in the 2024 fiscal year.
He said: “Total Expenditure and grants is expected to increase by 5 percent from D33,217,452,000.00 billion to D34,932,735,000.00 in 2024.”
Minister Keita also indicated that total expenditure and net lending is projected to increase slightly by 6 percent from D37.15 billion in 2023 to D39.38 billion in 2024.
He projected that the Gambia’s economy, is forecasted to continue its recovery, though at a slower pace, with real GDP growth expected at 5.6 percent in 2023, attributed to spillover effects from the Russia-Ukraine conflict and rising interest rates to counter inflation.
Keita anticipated, “The agriculture sector is expected to rebound with a growth rate of 8.3 percent, driven by fishing and crop production. The industry sector, particularly electricity and construction, is expected to grow by 7.4 percent, supported by improved supply chain condition”.
The service sector, Minister Keita stated is also expected to have a subdued recovery at 3.5 percent growth, mainly driven by tourism and wholesale and retail trade.
“Transparency and accountability are important components of governance. As such, effectively informing the citizens about government’s intentions is relevant to national development. In this regard, the government of the Gambia has taken the initiative to be preparing and summarizing the national budget into a document that can be easily understood by the citizens,” he said.
“The government of the Gambia remains committed to budget transparency and accountability through continuous engagements with the citizenry. We believe that as we work together, we will jointly deliver on our joint mandate to the people,” said Finance Minister, Seedy Keita.
