The Gambia’s projected 2022 revenue & grants to reach D29.87 billion, says Finance Minister

Mamos Media

By Adama Tine

The Minister of Finance and Economic Affairs Mamburay Njie has revealed that Gambia’s total revenue and grants for 2022 is projected to reach D29.87 billion.

Minister Njie made the revelation on Monday during the laying of estimates of revenues, recurrent and development expenditures for the fiscal year 2022 before lawmakers at the National Assembly.

He said the 2022 National Budget will place great emphasis on building the resilience of our systems, processes and communities on accelerating the pace of the country’s economic recovery, promote economic diversification, enhance our national competitiveness as well as ensure inclusive growth.

“Total Revenue and Grant in 2022 is projected to reach D29.87 billion, which represents a growth of 16% compared to 2021 figure of D25.76 billion. The increment is mainly attributed to Project Grants, Tax and Non-Tax revenue,” he disclosed.

According to him, Project Grants are envisaged to reach D9.7 billion in 2022, compared to D8.8 billion in 2021. He added that, Total Tax Revenue is projected to reach D13.9. billion in 2022 with 14% increase compared to D12.2 billion in 2021.

The 2022 budget, he said, will factor budget support amounting to D2.6 billion from development partners such as the IMF, European Union, African Development Bank and the World Bank compared to D3.2 billion in 2021.

The Finance minister further said the Total Expenditure and Net-lending is projected to increase from D31.75 billion in 2021 to D32.15 billion in 2022, representing a growth of 1%.

He added that the increment in Personnel Emolument (PE) from D4.8 billion in 2021 to D5.1 billion in 2022 is as a result of planned recruitment of additional teachers by the Ministry of Basic and Secondary Education (MoBSE), payment of allowances to election officers, increased allowances for nurses and midwives as well as factoring yearly increments based on promotions.

He also said the Gambia is poised to host the Heads of State and Governments Summit of the OIC in 2022, noting that the event would require substantial amount of resources to upgrade vital roads, energy and infrastructure across the country and as a result, the capital expenditure is expected to register a growth of 159% to D12.16 billion in 2022 from D4.69 in 2021.

“The 2022 Budget will prioritize social protection measures for vulnerable groups and ensure inclusive growth in the economy. This is in line with the recently launched Programme for Accelerated Community Development (PACD), which is highly significant for our national development and contributes to reducing disparities in development between Rural and Urban Gambia,” he noted.

He added that infrastructure development, roads in particular, will also feature meaningfully in the 2022 budget as the government will continue the implementation of several key road projects such as the Niumi- Hakalang road, the Sabach Sanjal road, the Saloum- Nianija Road, the Sankandi road and the Banjul Rehabilitation Project (BRP).

AT/COB/DAJ/19/10/21

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