The Gambia finance minister Amadou Sanneh drops a bombshell about the state of our finances. We are D48.3 BILLION in debt, this excludes monies he stole from our treasury.
“This is only one account the finance minister discussed today . There are many more illegal accounts they are yet to get. Additionally Yahya jammeh routinely sent messengers to physically take money from parastatals in off the books cash demands . We don’t know how much in the millions it added up to over the years. The off the books thefts are larger than the traceable accounts” – Karamba Touray.
“Real GDP growth of The Gambia has rebounded to 4.3 per cent in 2015 from 0.9 per cent in 2014. The improved economic activities continued in 2016 with growth expected to be within the long term trend growth rant of 4-6 per cent. Total Revenue and grants in 2017 is estimated at D14.34 billion from D12.99 billion budgeted, representing a growth of 10.4 per cent. Domestic revenue is estimated at D8.5 in 2017. Conversely, total expenditure and net lending is projected at D19.1 billion in 2017 from 16.9 billion budgeted in 2016. Of this, interest payments are estimated to be over D3 billion” Minister Sanneh explained.