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Central Bank of the Gambia: the budget deficit reaches 4 billion Dalasis

29/05/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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During the first quarter of 2024, the overall budget deficit, excluding donations, widened to 4.0 billion dalasis (2.3% of GDP) according to the governor of the Central Bank of The Gambia, Buah Saidy, according to the governor of the Central Bank of The Gambia, Buah Saidy, against a deficit of 3.9 billion dalasis (2.7% of GDP) according to the governor of the Central Bank of The Gambia, Buah Saidy, against a deficit of 3.9 billion dalasis (2.7% of GDP) recorded during the corresponding period of the previous year.

The Gambia's central bank governor said that preliminary estimates of government operations indicated an increase in the overall deficit, including donations, from 2.1 billion dalasis (1.5 percent of GDP) in the first quarter of 2023 to 2.2 billion dalasis (1.3 percent of GDP) during the same period in 2024. According to Governor Saidy, the amount of revenue collected continues its upward curve, thanks to the improvement of tax administration. According to him, “the total revenue and donations mobilized during the first quarter of 2024 reached 7.3 billion Dalasis (14.2% of GDP), an increase of 21.7% compared to the corresponding period last year. Total expenses and net loans for the first quarter of 2024 increased by 17.6% to 9.6 billion dalasis (5.5% of GDP

)”.
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