Gambian Economy Makes Robust Growth

DONATE

SUPPORT WWW.JOLLOFNEWS.COM

Gambian Economy Makes Robust Growth

Tuesday, 20 December 2011 00:38

(JollofNews) – Gambian Finance minister, Mambury Njie, has told deputies at the National Assembly that the country’s economy has made robust growth over the past 12 months despite the global financial crisis.

Minister Njie attributed this economic performance to solid growth registered in the agricultural and telecommunication sectors, noting that real Gross Domestic Growth (GDP) picked up 6 per cent for the past three years.

In his 2011 budget speech, Minister Njie said: “For the year 2011, Gross Domestic Product (GDP at 2004 market prices) grew by 5.4 per cent per annum Finance_Minister

compared to the 5.5 per cent of 2010. This is mainly due to the revised figures for crop production and fishing activities”.

On the fiscal sector, Minister Njie said there has been a significant drop in revenues as a percentage to GDP from 17.5 per cent in 2007 to about 14 per cent in 2011, leading to large fiscal deficits and prompting government to engage in a series of tax administration reforms and expenditure controls.

“It is against this background that the Gambia government has embarked on a series of reforms geared towards promoting macroeconomic growth stability, improve revenue mobilisation, and promote efficiency in resource allocation,” he said.

Minister Njie expressed government’s resolve to keep spending in control by embarking on budgetary reforms aimed at introducing a medium-term horizon in the planning and budgeting systems.

“The Medium-Term Expenditure Framework (MTEF) will constitute budget planning framework that provides incentives for policy makers and budget planners to formulate medium-term budget plans by linking planning and policy formulation with budget allocations; aligning the annual budget decisions with medium term macro-fiscal strategy; restricting expenditures within realistic resource envelope, and improving monitoring and tracking of budget performance,” he said.

Minister Njie added help expand the tax and improve tax collection, his ministry will next year introduce a Value-Added Tax (VAT) as well as streamline tax exemptions in order to minimise tax expenditures.
Written by Abdoulie John

Comments

+1 #18 2012-01-03 20:48

Babou Gaye, No thank you, i want to remain stupid, you can avoid me, i didn't asked you to answer to my comments.

Quote

+2 #17 2012-01-02 21:17

When you begin to make sensible contributions, that is then you will be taken serious. Your fixation for Jammeh tells how much you and him share. Both you and Yahya Jammeh are thinking so low and very much narrow below measurable standard. Can't you try to reason for one minute in your whole low life and recover from this slumber. Don't you read writings on the world spelling the inevitable.

Quote

-1 #16 2012-01-02 10:32

Babou Gaye,The British Minister for Africa officer,MP, for Northwest Norfolk, who is a conservative and a lawyer, makes it very clear in a letter reads: "Congratulation on your recent re-election as the President of the gambia. The high turnout demonstrates the importance with which the Gambian people view the democratic process. The aspiration for the Gambia that you set out in your victory speech were clear.

You wanted to see improved socio-economic development to see the Gambia become the most literate country in Africa and develop it as a center for technological expertise".

Babou Gaye, if you're the one i knew from Banjul, i think you'll reconsider your self and stay away from Radiokangkang, otherwise i will kangkang the dust on you, lol.

Quote

-3 #15 2012-01-02 00:55

Babou Gaye, You started it, so i want everybody to be my witness here, i didn't called you names nor did i ever insulted you, i support my choice and contributing my idea, you've all the rights to do the samething, but, you do not have the right to insult me, i decided to lecture you first before, i'll start to send my missiles.( A WORD IS ENOUGH FOR THE WISE).

Quote

+2 #14 2011-12-31 23:49

Quoting Mike Scales:

Ah! I see...

So do you think we should make the Queen a President... and just have some mock/shambolic elections every 5 years then?

Or better still...should I get a few guns together...like Oliver Cromwell,

..and take over the country?

You seem to want to go back 300 years?

We've moved on...

How about you?

For sake of level heading, please stay away from any exchange with this disgraceful creeping life of Radio Kangkang. Michael, you are pitching too high for this low life.

Matching the champanzee bully and wild hunt of Gambia under Yahya Jammeh with any nation is block-headed idiocy beyond the limit. Kangkang, you do not represent Gambia.

Quote

+2 #13 2011-12-24 02:16

Ah! I see...

So do you think we should make the Queen a President... and just have some mock/shambolic elections every 5 years then?

Or better still...should I get a few guns together...like Oliver Cromwell,

..and take over the country?

You seem to want to go back 300 years?

We've moved on...

How about you?

Quote

-2 #12 2011-12-23 20:29

Mike, I am not talking about the slave trade, am talking about during the colonial era, when your kings/queeens proudly exploded and looted our natural resources.
What is your democracy? a country with no presidential elections, one German family that enjoying the taxes ofthe rest, should i called a monarch; a sole and absolute ruler of a state, one who holds a dominant position is what you called DEMOCRACY? Democracy is what we just did in the Gambia free and fair presidential elections with minor corrections that has being pointed out, which is going to be corrected before the next elections INSAALLAH.

Quote

+1 #11 2011-12-23 15:29

Kang Kang..

Britain is an ISLAND race/economy.

For thousands of years we have had to trade to survive.

You should study, the transition from herditry kings and queens...to democracy.

A further insight can be gathered by studying our great industrial inventions such as steam,the combustion engine,and jet propulsion.

Then you must follow the industrial revolution...and the growing freedoms through wealth generation and social liberties.

Lastly..you should view todays modern Britain..with its cutting edge Universities and colledge hospitals.

Our pharmacutical industries and our high technology manufacturing capability.

Then stand in the City of London to see that British financial institutions control 40% of the worlds financial transactions.

Slavery...was never the foundation of the United Kingdom.

Liberty and Justice take precedance.

But nice try son.

Quote

-2 #10 2011-12-23 12:17

Mike, you can take it for an answer, because your countrymen were responsible for the looting of all our natural resources and brought it all to "ENGLAND" that's why you can afford electricity today and we have to borrowed money from venezuelans bank.

Gambians can take on the british in any level playing field, your people were doubted our existence when we asked for our independence, they under estimated our determination, our country is small by size but, not small in mind. We Gambians can agree to disagree but, i cant stand you critizising us, and you're one of the cause of our problems.

Quote

+2 #9 2011-12-21 16:59

Well explained Bax.

I was indeed surprised that the Opposition did not pick up on this...during the Presidential elections.

The National Assembly elections...may provide for a better debate on this.

In what I have read....it appears to me that Halifa.Sallah...is the only one who can engage this subect with a real command of the consequences.

By the way...the debt to GDP ratio as reported by the IMF for Gambia...

is far better than many European countries.{To be fair}

Gambia does have a good history of excellent financial economists.

But I take your point about recent Gambia foriegn policy decisions.

What became of the 22 million dollars said to be from a Venezuelan Bank through to Nawec?

Has there been any specific "energy" programme announced?

I have only seen the electric pre-payment meter announcement?

Or... should we "go to hell"
For the answers?

Quote

Refresh comments list
RSS feed for comments to this post.