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Gambia C/Bank Sees Economy Slowing To 5.5 pct in 2011
Wednesday, 10 August 2011 19:02
(Reuters) - Gambia's central bank sees economic growth in the West African state slowing to 5.5 percent in 2011 from 6.1
percent in 2010, due to a slowdown in the tourism and value-added agricultural sectors.The country, a sliver of land sandwiched between northern and southern Senegal, depends on tourism and agriculture for the bulk of its revenues
and in 2010 had a GDP of about $1 billion.The central bank said on Wednesday that Gambia's consumer price inflation rate rose to 5.7 percent by the end of June, from 3.4 percent a year earlier, but would probably remain below a 6 percent target for the year.
"However, an acceleration in food and energy prices as well as a higher-than-expected fiscal deficit are risks to the outlook," the bank said in a release posted on its website.
The bank's Monetary Policy Committee at its most recent meeting in July held interest rates steady at 15 percent, according to the release.
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