Sunday, September 20, 2020

THE DEMAND FOR GOVERNMENT TO DISTRIBUTE FOOD TO THE NEEDY

Must Read

Road To 3rd Republic: Halifa Explains Procedures Undertaken By CRC To Chart The Way Forward

By Momodou Jarju The national assembly member for Serrekunda has used part of his debate-time on The Gambia Promulgation Bill...

RE: President Adama Barrow Relaxes Nightly Curfew and Market Restrictions, Public Health Regulations Remain In Force

At the expiration of the State of Public Emergency by midnight tonight, His Excellency, President Adama Barrow, has decided...

33 New Cases of COVID-19 Registered, No New Death

By Nelson Manneh The Gambia has registered thirty-three new cases of the deadly Coronavirus, taking the total number of COVID-19...

WHERE WILL THE MONEY COME FROM?

The government is poised to purchase and distribute 230,000 bags of rice and sugar respectively and 148,000 drums of ten litre oil to distribute to the needy.

Many Gambians have been demanding that the government should complement the efforts of those who are distributing rice and oil.

The government however has three sources of income, namely, taxation, non – tax revenue, grants and loans.

In the last Press Conference of the Monetary Policy Committee of the Central Bank in February 2020, it was indicated that the domestic debt of the country was put at approximately 32.9 billion dalasi. The total debt of the Country is put at 71 billion by the Minister of Finance in his budget speech for the 2020 financial year.

- Advertisement -

Tax revenue for 2020 is put at 11 .6 Billion Dalasi. Grant inflow is expected to be 13.4 Billion.

Expenditure is expected to exceed revenue by 3.9 Billion dalasi thus requiring the government to engage in domestic borrowing.

Foroyaa will find out where the government is going to derive the income to pay for the bags of oil and rice and the drums of oil in the face of contraction in tax collection. Any supplementary budget in the face of revenue contraction will have to rely on grants or domestic borrowing to be financed or money from non-tax sources which is small.

Latest News

Road To 3rd Republic: Halifa Explains Procedures Undertaken By CRC To Chart The Way Forward

By Momodou Jarju The national assembly member for Serrekunda has used part of his debate-time on The Gambia Promulgation Bill...
- Advertisement -

RE: President Adama Barrow Relaxes Nightly Curfew and Market Restrictions, Public Health Regulations Remain In Force

At the expiration of the State of Public Emergency by midnight tonight, His Excellency, President Adama Barrow, has decided to relax the night curfew...

33 New Cases of COVID-19 Registered, No New Death

By Nelson Manneh The Gambia has registered thirty-three new cases of the deadly Coronavirus, taking the total number of COVID-19 cases ever confirmed in the...

SoNA 2020: Barrow Assures Gambians General Elections Will Be Conducted in 2021

By Momodou Jarju President Adama Barrow has assured Gambians that his-led administration is committed to the conducting of the 2021 general elections. He said this while...

What Did Speaker Denton tells the National Assembly members on the impasse regarding media coverage of the sittings?

In her opening remarks, the Speaker indicated that she would like to inform the members the issue raised by the member for Serrekunda regarding...
- Advertisement -

People Also Read This