Africa-Press – Gambia. <\/strong><\/span>The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to meet the country\u2019s demand despite government\u2019s massive subsidies over the past four years.<\/p>\nCement industries in The Gambia have argued that the influx of Senegalese cement into the country is running them out of business. Last month, Jah Oil announced it has ceased producing cement and instead joined the rest to be importing from Senegal because operations in the local factories are not sustainable with Senegalese cement flooding the market.<\/p>\n
But speaking at the in-country launching of the IMF April 2022 Regional Economic Outlook for Sub-Saharan Africa, Seedy Keita said the government has expended over D4 billion in subsidies into the cement and flour industries over four years. He said the incentive scheme was meant to support cement and flour industries to substitute importation.<\/p>\n
\u201cWe have spent in the last four years D4 billion as incentives in terms of wavers of duties and taxes to the cement and the flour sectors, respectively but unfortunately, these industries have not been able to grow up to scale to be able to utilise this fiscal incentive,\u201d Minister Keita said.<\/p>\n
Agriculture Minister Keita said the government\u2019s plan to have agriculture as a substitute to stop importation of rice by now has also failed despite receiving so much donor funds over the years.<\/p>\n
\u201cIf you look back from the seventies, agriculture is one ministry that has not been without a donor intervention and all types of trainings but unfortunately, our intervention has always been pro-government driven,\u201d he said.<\/p>\n
To address this menace, Mr Keita said the government has designed a new project to leverage on the private sector to look at agriculture as a business.<\/p>\n
\u201cOn that note, we are trying to invite investors to go into rice production and that way, we expect to see development of the sector,\u201d he said. Economic outlook<\/p>\n
According to the Regional Economic Outlook, investing in electricity is the best for developing countries like The Gambia. The report said the country\u2019s revenue collection declined due to slow economic activities, causing public debt level to decline at a slower pace than anticipated. The Gambia\u2019s fiscal deficit, the report added, will remain high in 2022 due to the impact of the Ukraine war affecting both revenue (oil subsidies) and high spending cost on the OIC projects.<\/p>\n
\u201cSlow tourist arrivals lowered service exports but strong remittance inflow helped support a strong reserves accumulation that was amplified by the US$ 85 million SDR allocation in August-2021,\u201d the report added.<\/p>\n
According to the report, exchange rates remained broadly stable during the pandemic with some recent depreciation against the Dollars associated with some appreciation against the Euro and the Pound as the Dollar strengthened globally.<\/p>\n
\u201cSoaring food and energy prices linked to the Ukraine war will put additional pressure on the current account and on international reserves that have slightly declined in recent months. Current account is projected to remain high in the medium term to accommodate recovery- induced imports and high commodity prices,\u201d the report noted.<\/p>\n
Source: The Gambia | Standard News From The Gambia<\/b><\/p>\n
For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Omar Bah Africa-Press – Gambia. The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to meet the country\u2019s demand despite government\u2019s massive subsidies over the past four years. Cement industries in The Gambia have argued that the influx of Senegalese cement into the country is running them […]<\/p>\n","protected":false},"author":84,"featured_media":17868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8],"tags":[2355,2361,260,7151,7150],"class_list":["post-17869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","tag-africa-press","tag-africa-press-gambia","tag-gambia","tag-subsidies","tag-yield-dividend"],"yoast_head":"\n
\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019 - Gambia<\/title>\n<meta name=\"description\" content=\"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-22T12:39:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-22T13:01:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019\",\"datePublished\":\"2022-06-22T12:39:27+00:00\",\"dateModified\":\"2022-06-22T13:01:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\"},\"wordCount\":548,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\",\"SUBSIDIES\",\"YIELD DIVIDEND\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\",\"name\":\"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019 - Gambia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg\",\"datePublished\":\"2022-06-22T12:39:27+00:00\",\"dateModified\":\"2022-06-22T13:01:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg\",\"width\":720,\"height\":801,\"caption\":\"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/gambia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/\",\"name\":\"Gambia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/gambia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019 - Gambia","description":"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend","og_locale":"en_US","og_type":"article","og_title":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019","og_description":"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...","og_url":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend","og_site_name":"Gambia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-06-22T12:39:27+00:00","article_modified_time":"2022-06-22T13:01:41+00:00","og_image":[{"width":720,"height":801,"url":"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019","datePublished":"2022-06-22T12:39:27+00:00","dateModified":"2022-06-22T13:01:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend"},"wordCount":548,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg","keywords":["Africa Press","Africa Press-Gambia","Gambia","SUBSIDIES","YIELD DIVIDEND"],"articleSection":["all news","Economy","head lines","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend","url":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend","name":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019 - Gambia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/gambia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg","datePublished":"2022-06-22T12:39:27+00:00","dateModified":"2022-06-22T13:01:41+00:00","author":{"@id":"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Minister of Finance and Economic Affairs has expressed frustration over the cement and flour industries\u2019 failure to ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#primaryimage","url":"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg","contentUrl":"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/06\/postQueueImg_3-62b3129b6f7a9.jpg","width":720,"height":801,"caption":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/gambia\/all-news\/govts-d4bln-subsidies-on-cement-and-flour-failed-to-yield-dividend#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/gambia\/"},{"@type":"ListItem","position":2,"name":"\u2018GOV\u2019T\u2019S D4BLN SUBSIDIES ON CEMENT AND FLOUR FAILED TO YIELD DIVIDEND\u2019"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/gambia\/#website","url":"https:\/\/www.africa-press.net\/gambia\/","name":"Gambia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/gambia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/posts\/17869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/comments?post=17869"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/posts\/17869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/media\/17868"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/media?parent=17869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/categories?post=17869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/gambia\/wp-json\/wp\/v2\/tags?post=17869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}