The Gambia unveils 2014 national budget of D8.6 billion

It included a budget support of D313 million from World and African Development banks. (Photo credit: Wikipedia)

By Modou S. Joof

The Government of The Gambia has on Thursday unveiled the national budget for 2014 which is an estimated D8.6 billion to be derived from domestic revenue and grants – representing an increase of 1 billion on the 2013 budget of D7.6 billion.

According to the country’s minister of finance and economic affairs, Kebba Touray, the budget represents a growth of 13.5 per cent principally due to a 20.5 per cent expected rise in tax revenue and a 32.0 per cent projected increase in non-tax revenue.

He told the National Assembly on December 19 that these forecasts assume that there will be improvements in compliance levels as well as the implementation of new revenue measures. It included a budget support of D313 million from World and African Development banks.

Gambian Dalasi continues to depreciates, no probability of appreciation soon

Obverse of 10 and 25 dalasi note (Photo credit: Wikipedia)

By Lamin Jahateh

The Gambia national currency, the Dalasi, continues to depreciate in value and it is not expected to stabilise soon and to start to appreciate, the International Monetary Fund (IMF) has warned on Monday.

The Fund stated that the continuous weakening of the Dalasi will continue to further accelerate inflationary pressure in the country leading to increase in prices of goods and services.

“The Gambian dalasi has continued to face depreciation pressures,” said Mr David Dunn, the IMF mission chief for The Gambia.  The Dalasi continues to depreciate and loss value over the past year.  Recently, in May 2013, it depreciated against the British Pound by 12.62 per cent, the US dollar by 11.87 per cent and the Euro by 12 per cent.

However, Mr Dunn said in late May 2013, the Central Bank of The Gambia (CBG) acted to tighten monetary policy in the country to guard against the depreciation of the Dalasi and to control inflation.

Global Peace Index 2013: The Gambia drops 19 places

Sudan is among the world’s five less peaceful countries (Photo credit: USAID_IMAGES)

 

By Modou S. Joof

 

The Gambia is ranked 93 out of 162 countries in the 2013 2013 Global Peace Index (GPI), dropping 19 places from its 74^th position in 2012.

 

This year, the tiny West African nation, which is largely regarded as “peaceful” from within – scored 2.09 points compared to 1.96 points last year.

The Gambia: Internet communication restrictions flare up debate on social media

This (Skype) is banned in The Gambia on April 19, 2013 by a brief press release (Image via Crunch Base)