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Freedom Newspaper (Raleigh, North Carolina)

Gambia: Current National Balance of the Country Government is(minus) -$31.69 Million Worse Secrets to Follow

Hammadi Maasinah

9 April 2008

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opinion

Exactly as we promised Yahya Jammeh here I come with Crack number ONE of the revelations from within his internal circle of decadence and total mismanagement of national coffers!

1-As at now the government's national balance per the REAL budget details shows:MINUS THIRTY ONE POINT XITY NINE MILLION DOLLARS -$31.69 Million USD.This when multiplied by 18 (current exchange rates) gives what in dalasis? It gives D570.42 Million dalasis. Yahya Jammeh's plane uses $70000(seventy thousand USD) for the purchase of kerosene before taking off at any given destination. Now calculate how many times Yahya flies then multiply those figures by the number you have.

2- Industrial Production is (minus) -2.3% therefore means it has fallen below freezing point. Now tell me if any serious investment is in Banjul? The answer is yours!

3-Reserves of f$119.9 million (31 December 2007 est.)

Debt -xternal:$628.8 million (2003 est.)

If the our national foreign reserves are at $119.9 Million USD whereas our external debt is at $628.8 million tell me where on earth will any serious mind will call Yahya Jammeh a good leader?

The rest of the figures are hereunder for all and sundry to see. These figures are derived from Fact books which are details for public consumption. This is just a starter next I will release more surprising details. Where the whole world will see that Hammadi is really not into this to smear anyone's name it is all about how the Jammeh regime has plunged our country into a total mess.

Stay tuned I swear Yahya Jammeh will come to realise that Hammadi is based on determination not jokes or searching cheap popularity neither is this based on mere hatred like what him and his parrots feed on

Economy Gambia, The

Economy - overview:

The Gambia has no confirmed mineral or natural resource deposits and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. Reexport trade normally constitutes a major segment of economic activity, but a 1999 government-imposed preshipment inspection plan, and instability of the Gambian dalasi (currency) have drawn some of the reexport trade away from The Gambia. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa. The government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts. Despite an announced program to begin privatizing key parastatals, no plans have been made public that would indicate that the government intends to follow through on its promises. Unemployment and underemployment rates remain extremely high; short-run economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, on continued technical assistance from the IMF and bilateral donors, and on expected growth in the construction sector.

GDP (purchasing power parity):

$1.338 billion (2007 est.)

GDP (official exchange rate):

$379 million (2007 est.)

GDP - real growth rate:

7% (2007 est.)

GDP - per capita (PPP):

$800 (2007 est.)

GDP - composition by sector:

agriculture: 32.8%

industry: 8.7%

services: 58.5% (2007 est.)

Labor force:

400,000 (1996)

Labor force - by occupation:

agriculture: 75%

industry: 19%

services: 6% (1996)

Unemployment rate:

NA%

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: 1.8%

highest 10%: 37% (1998)

Distribution of family income - Gini index:

50.2 (1998)

Inflation rate (consumer prices):

3.5% (2007 est.)

Investment (gross fixed):

27.7% of GDP (2007 est.)

Budget:

revenues: $160.4 million

expenditures: $165.7 million (2007 est.)

Agriculture - products:

rice, millet, sorghum, peanuts, corn, sesame, cassava (tapioca), palm kernels; cattle, sheep, goats

Industries:

processing peanuts, fish, and hides; tourism, beverages, agricultural machinery assembly, woodworking, metalworking, clothing

Industrial production growth rate:

-2.3% (2007 est.)

Electricity - production:

145 million kWh (2005)

Electricity - consumption:

134.9 million kWh (2005)

Electricity - exports:

0 kWh (2005)

Electricity - imports:

0 kWh (2005)

Oil - production:

0 bbl/day (2005 est.)

Oil - consumption:

2,030 bbl/day (2005 est.)

Oil - exports:

41.5 bbl/day (2004)

Oil - imports:

2,050 bbl/day (2004)

Oil - proved reserves:

0 bbl (1 January 2006 est.)

Natural gas - production:

0 cu m (2005 est.)

Natural gas - consumption:

0 cu m (2005 est.)

Natural gas - exports:

0 cu m (2005 est.)

Natural gas - imports:

0 cu m (2005)

Natural gas - proved reserves:

0 cu m (1 January 2006 est.)

Current account balance:

-$31.69 million (2007 est.)

Exports:

$147.7 million f.o.b. (2007 est.)

Exports - commodities:

peanut products, fish, cotton lint, palm kernels, re-exports

Exports - partners:

India 38.6%, UK 15.9%, Indonesia 7.9%, France 7%, Italy 4.6% (2006)

Imports:

$276 million f.o.b. (2007 est.)

Imports - commodities:

foodstuffs, manufactures, fuel, machinery and transport equipment

Imports - partners:

China 25.2%, Senegal 11.3%, Cote d'Ivoire 8.1%, Brazil 6.6%, Netherlands 4.5%, UK 4% (2006)

Economic aid - recipient:

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