By Kebba AF Touray
The Gambia government recorded total revenues of GMD13.78 billion in the first half of 2025, marking a 29 percent increase compared to the same period last year, Finance Minister Seedy Keita reported to the National Assembly on Monday. Speaking at the opening of the Third Ordinary Session of the 2025 Legislative Year, Minister Keita outlined the performance of the Consolidated Fund and provided lawmakers with a detailed assessment of the government’s budget execution and fiscal operations.
“The Total Revenue (excluding Project Grants) Performance for the first half of the year indicates a better out-turn, reaching D13.78 billion compared to the same period a year ago (D10.69 billion),” Minister Keita said. He noted that this amount represents 43 percent of the annual budget of D32.10 billion and exceeds the mid-year target of D12.61 billion by nine percent. He attributed the strong performance to higher collections in taxes on profits and capital gains, goods and services, international trade and transport, and non-tax revenue from ministries, departments, and agencies.
Despite the positive revenue performance, the government’s spending reached D14.51 billion, equivalent to 45 percent of the annual budget of D32.30 billion, resulting in a mid-year deficit of D724.84 million. “The main drivers for this fiscal performance can be attributed to spending in Personnel Emoluments (54 percent execution rate), Subsidies and Transfers (53 percent execution rate), and Domestic Interest payments (47 percent execution rate),” Minister Keita said.
Breaking down the revenue streams, he reported that domestic revenue collections amounted to D13.78 billion against an annual budget of D29.09 billion, representing a 47 percent collection rate. The performance included a 55 percent collection rate for taxes on profits and capital gains, a 55 percent rate for taxes on goods and services, and a 50 percent rate for taxes on international trade and transport. Program grants were not realized during the period under review.
Revenue from taxes on profits and capital gains rose 26 percent, increasing from D2.95 billion in the first half of 2024 to D3.73 billion in 2025, driven by higher payments from individuals and corporate entities, which grew by 46 percent and 60 percent respectively. Taxes on goods and services reached D4.58 billion, fueled by strong collections from general taxes and excises, with rates of 55 percent and 57 percent, respectively. Taxes on international trade and transport recorded D2.91 billion, a 32 percent increase year-on-year.
Minister Keita also highlighted key expenditure trends. Personnel Emoluments accounted for D4.74 billion, while subsidies and transfers totaled D3.46 billion. Current expenditure reached D13.14 billion, representing 46 percent of the approved annual budget of D28.28 billion. Capital expenditure amounted to D1.37 billion, or 36 percent of the annual budget of D3.78 billion, reflecting a 9 percent decrease from the same period in 2024.
Regarding the mid-year deficit, Minister Keita explained, “Although an annual deficit of D198.33 million was budgeted, a deficit of about D724.84 million was incurred in the first half of the year.” He expressed confidence that the deficit could be reduced by moderating expenditure and anticipating improved revenue performance, particularly from the realization of program grants later in the year.
