27 December 2016

Gambia: What Budget Will Adama Barrow Inherit?

QUESTION OF THE DAY

WHAT BUDGET WILL ADAMA BARROW INHERIT?

First of all it must be noted that all expenditures by the government are derived from the consolidated revenue fund. It is the national assembly that determines the amount of money to be collected and how. The national assembly also determines how much money should be spent and on what. How much government should spend and on what is contained in what is called an Appropriation Bill.

In presenting this bill to the national assembly, the minister of finance justifies the budget by delivering a budget speech. In his budget speech, this year the minister has proposed for the year 2017, an income derived from taxes, services and grants totaling 14.34 billion dalasis and expenditure amounting to 19.1 billion dalasis, giving a deficit of 4.7 billion dalasis.

This is the budget that the Barrow administration will inherit on 19 January if the national assembly put their stamp on it. They have always done so in the past after heaping praises on the government.

It is evident from the figures given that if the Barrow administration can maintain this budget it must borrow 4.7 billion dalasis. Needless to say, domestic debt in September stood at 25 billion dalasis.

Gambia

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