Africa-Press – Gambia. The 2023 budget speech indicates that the overall fiscal deficit including grants has rose from D3.6 billion as at the end of September 2021 to D4.4 billion in the corresponding period in 2022.
The Minister of Finance and Economic Affairs Seedy K.M. Keita, while delivering the Budget 2023 before legislators of the National Assembly on Friday, revealed that interest payments amounted to D2.3 billion compared to D2.7billion a year ago “recording a contraction of 16%. Similarly, external and domestic interest payments declined by 19% and 16%,” he read.
Mr. Keita noted that during the period under review, personal emoluments increased by 22% from D3.3 billion to D4.1billion. “This is as a result of the 30% civil service salary increment introduced in July,” he added.
He highlighted that other charges recorded an outturn of D6.2 billion compared to D5.6 billion in the same period 2021, citing that this indicated a growth of 12%. “The significant increase is due to an increase in subsidies and transfers, which increased by 20% through subventions to agencies,” he said.
He further stated that interest payments amounted to D2.3 billion compared to D2.7 billion a year ago, “recording a contraction of 16%. Similarly, external and domestic interest payments declined by 19% and 16%,” he said.
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