Sunday, July 5, 2020

GBoS Publishes Rebased 2013 GDP

Must Read

Minister Tangara Sheds Light on Death of Two Gambians Abroad

By: Kebba AF Touray Momodou Tangara Gambia’s Foreign Affairs Minister has recently disclosed to the legislature that information relayed by...

Environment Ministry Working on Project to Safe Fort Bullen from Erosion

By: Kebba AF Touray Environment Minister Lamin Dibba said Wednesday his Ministry was working on a project aimed at protecting...

Minister Tangara says 4837 Gambians are required to leave Germany, 25 Convicted of Criminal Offences

By: Kebba AF Touray Momodou Tangara, the Gambia’s Foreign Affairs Minister, on Wednesday told lawmakers that 4837 Gambians are required...

By Saikou Suwareh Jabai 

The Gambia Bureau of Statistics (GBoS), published the rebased 2013 Gross Domestic Product (GDP) of the Gambian economy, at a press briefing at its Kanifing Office on Wednesday June 20th 2018.

The rebasing was aimed at providing up-dated GDP estimates in terms of improved coverage of emerging economic activities and methodologies, in line with international standards.

The newly rebased 2013 GDP by production estimates, show that it is 1.52% higher than its level, using the old base year of 2004 and the GDP per capita rose from $450 to $684.

The Statistician General of GBoS Nyakassi M. B. Sanyang, said the outcome of the rebasing exercise will contribute to guide decision-makers with sound and reliable information of the Gambian economy, for results based policy formulation, planning, monitoring and evaluation.

- Advertisement -

“Due to the revolving nature of our economies, it is important to change reference or benchmark periods of GDP estimates on a regular basis, to include and measure emerging economic activities and products,” he said.

While UN recommends that countries rebase their GDPs every five years, Sanyang said the previous rebasing was done in 2004; that GBoS will hold a dissemination meeting on the 5th of July 2018, where the office will present a detailed report of the results, to stakeholders.

The Permanent Secretary at the Ministry of Finance and Economic Affairs Lamin Camara, congratulated GBoS on the completion of the rebasing. He described the initiative as timely, saying it will go far enough in informing policy-makers on key development issues. “This is a good move and it is one of the biggest achievements in GBoS’s history. It takes hard work and dedication,” PS Camara said; that the dynamics of our economy changes and thus, there is a dare need for periodic rebasing of the country’s GDP.

Sanyang said the Ministry of Finance will continue to support the rebasing process to ensure that it is done consecutively, to enable Government have statistics, that reflect current realities.                                

Latest News

Minister Tangara Sheds Light on Death of Two Gambians Abroad

By: Kebba AF Touray Momodou Tangara Gambia’s Foreign Affairs Minister has recently disclosed to the legislature that information relayed by...
- Advertisement -

Environment Ministry Working on Project to Safe Fort Bullen from Erosion

By: Kebba AF Touray Environment Minister Lamin Dibba said Wednesday his Ministry was working on a project aimed at protecting Fort Bullen which was threatened...

Minister Tangara says 4837 Gambians are required to leave Germany, 25 Convicted of Criminal Offences

By: Kebba AF Touray Momodou Tangara, the Gambia’s Foreign Affairs Minister, on Wednesday told lawmakers that 4837 Gambians are required to leave Germany, adding 25...

Hamat Bah Reveals Plans to Erect Fence at Fort Bullen

By Momodou Jarju The Minister of Tourism and Culture, Hamat Bah, has recently informed lawmakers in Banjul that his ministry has laid out plans to...

Current Occupants of Kerr Mot Hali take Sering Ndigal Followers to Court

By Nelson Manneh The current residents of Kerr Mot Hali village have instituted civil action against the followers of Sering Ndigal, who are currently in...
- Advertisement -

People Also Read This