{"id":59338,"date":"2024-06-02T17:02:07","date_gmt":"2024-06-02T17:02:07","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023"},"modified":"2024-06-02T17:53:08","modified_gmt":"2024-06-02T17:53:08","slug":"world-bank-reports-5-3-gdp-growth-for-gambia-in-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023","title":{"rendered":"World Bank Reports 5.3% GDP Growth For Gambia In 2023"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>In a recent update shared on its Facebook page, the World Bank disclosed that The Gambia experienced a 5.3% growth in Gross Domestic Product (GDP) in 2023, a rise from the 4.9% recorded in 2022.<\/b><\/p>\n

\u201cExciting news from The Gambia! The country\u2019s GDP grew by 5.3% in 2023, up from 4.9% in 2022. This boost comes from strong performance in agriculture thanks to better rain, improved farming methods, and increased investments,\u201d the World Bank said.<\/p>\n

To maintain this positive trend, the World Bank\u2019s latest Economic Update suggests that The Gambia should transition from a reliance on low-value tourism to fostering a vibrant private sector. The World Bank identifies several critical areas for further development:<\/p>\n

Ensuring stable fiscal and debt policies<\/p>\n

Enhancing revenue generation<\/p>\n

Making strategic infrastructure investments<\/p>\n

Fortifying regional commerce<\/p>\n

Responding to the World Bank\u2019s announcement, Kemo Bojang from the United Democratic Party reflected on the significance of the reported GDP growth.<\/p>\n

\u201cThe recent post by the World Bank indicating a 5.3% GDP growth for The Gambia, marking a 0.4% increase from 2022 to 2023, brings to mind Rostow\u2019s definition of development. Rostow suggests that development is marked by structural changes in the economy, particularly an increase in GDP. However, this definition places excessive emphasis on economic growth and industrialization as indicators of development, potentially neglecting other crucial aspects such as social, cultural, and environmental dimensions.\u201d Bojang commented.<\/p>\n

Kemo emphasized that development should be more holistic, encompassing improvements in health, education, and social equity.<\/p>\n

\u201cOur generation must consider development from the perspectives of scholars like Amartya Sen. The World Bank and similar institutions should adopt a broader view to ensure that the concept of development does not become overly sophisticated and detached from the lived realities of people. Development should be assessed less by material wealth and more by the well-being and substantive freedoms and capabilities that people have to lead the lives they value,\u201d he said.<\/p>\n

The KMC Youth Representative Councilor emphasized the importance of personal empowerment and societal structures in promoting human liberty and welfare. From this standpoint, GDP growth is inconsequential if it doesn\u2019t lead to real-life improvements for Gambians, especially as they face the Dalasi\u2019s devaluation and deteriorating living conditions.<\/p>\n

\u201cTrue development should lead to tangible improvements in people\u2019s lives, not just in economic statistics. The increase in GDP for The Gambia, therefore, should be scrutinized to ensure it translates into real benefits for its citizens. If economic growth does not lead to better health, education, and social equity, it falls short of true development. The focus should be on creating an environment where people have the freedom and capability to pursue their own goals and improve their own lives, reflecting a more comprehensive and human-centered approach to development,\u201d he concluded.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. In a recent update shared on its Facebook page, the World Bank disclosed that The Gambia experienced a 5.3% growth in Gross Domestic Product (GDP) in 2023, a rise from the 4.9% recorded in 2022. \u201cExciting news from The Gambia! The country\u2019s GDP grew by 5.3% in 2023, up from 4.9% in […]<\/p>\n","protected":false},"author":84,"featured_media":59336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,2366],"tags":[2355,2361,260],"class_list":["post-59338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-gambia","tag-gambia"],"yoast_head":"\nWorld Bank Reports 5.3% GDP Growth For Gambia In 2023 - Gambia<\/title>\n<meta name=\"description\" content=\"In a recent update shared on its Facebook page, the World Bank disclosed that The Gambia experienced a 5.3% growth in ...\" \/>\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\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank Reports 5.3% GDP Growth For Gambia In 2023\" \/>\n<meta property=\"og:description\" content=\"In a recent update shared on its Facebook page, the World Bank disclosed that The Gambia experienced a 5.3% growth in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\" \/>\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=\"2024-06-02T17:02:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-02T17:53:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2024\/06\/sm_1717338061.363615.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"World Bank Reports 5.3% GDP Growth For Gambia In 2023\",\"datePublished\":\"2024-06-02T17:02:07+00:00\",\"dateModified\":\"2024-06-02T17:53:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\"},\"wordCount\":470,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2024\/06\/sm_1717338061.363615.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"Gambia\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/world-bank-reports-5-3-gdp-growth-for-gambia-in-2023\",\"name\":\"World Bank Reports 5.3% GDP Growth For Gambia In 2023 - 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