Gov’t expenditure, net lending increased to D10.8B

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During the monetary policy committee meeting of the central bank, the committee indicated that government expenditure and net lending for the first six months of 2020 increased by 11 percent to D10.8 billion (11.0 percent of GDP) from D9.7 billion (11.1 percent of GDP) in the first half of 2019. In a statement read by the governor of the central bank of The Gambia, Bakary K. Jammeh further stated that recurrent expenditure increased by 31.2 percent to D8.0 billion (8.1 percent of GDP) compared to D6.1 billion (7.0 percent of GDP) in the first half of 2019, while adding that capital expenditure on the other hand, declined by 22.9 percent to D2.8 billion (2.9 percent of GDP). The statement further reads that, “Preliminary estimates of government fiscal operations indicated that overall deficit, including grants worsened from D0.6 billion (0.7 percent of GDP) in the first half of 2019 to a deficit of D1.6 billion (0.4 percent of GDP) in the first half of 2020. The budget deficit excluding grants, however, improved to D3.2 billion (3.2 percent of GDP) in the first half of 2020 compared to D3.5 billion (4.0 percent of GDP) in the same period in 2019.” He clarified that the total revenue and grants stood at D9.2 billion (9.4 percent of GDP) in the first six months of 2020 compared to D9.1 billion (10.4 percent of GDP) in the same period last year. “Tax revenue rose by 4.3 percent to D5.4 billion (5.5 percent of GDP) in the first half of 2020 from D5.2 billion (5.9 percent of GDP) in the corresponding period a year ago. Non-tax revenue also rose to D2.3 billion (2.3 percent of GDP) in the first six months of 2020 from D1.0 billion (1.2 percent of GDP) in the same period last year.”

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