{"id":84830,"date":"2025-08-26T16:39:04","date_gmt":"2025-08-26T16:39:04","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/protection-without-planning-risks-inflation-says-financial-expert"},"modified":"2025-08-26T18:00:36","modified_gmt":"2025-08-26T18:00:36","slug":"protection-without-planning-risks-inflation-says-financial-expert","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert","title":{"rendered":"Protection Without Planning Risks Inflation, Says Financial Expert"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>Dr. Foday Joof, a sustainable financial economist, has warned that protecting domestic industries without proper planning risks worsening inflation and harming consumers in The Gambia.<\/b><\/p>\n

In an exclusive interview with The Voice over the weekend, Dr. Joof cautioned that while shielding infant industries is important for national development, it must not come at the cost of the public\u2019s welfare.<\/p>\n

He argued that the country\u2019s current economic strategy, which focuses heavily on interest rates, needs a broader, more context-sensitive approach that considers structural bottlenecks, supply constraints, and, most importantly, the needs of the people.<\/p>\n

\u201cWithout balance, the noble goal of nurturing domestic industries can backfire, leading to inefficiencies and prolonged hardship for the very people it\u2019s meant to help,\u201d he said.<\/p>\n

Dr. Joof emphasized that while the theory behind protecting young industries is sound, the implementation in The Gambia raises serious concerns.<\/p>\n

He cited the recent spike in cement prices, rising over 30% in just two months, as a clear example of the downside of poorly planned protection policies. The increase, he said, stems from inadequate production capacity in the protected local industry, leading to scarcity.<\/p>\n

\u201cWhen protection creates scarcity because domestic producers can\u2019t meet demand, consumers end up paying the price,\u201d Dr. Joof explained.<\/p>\n

\u201cDid we miscalculate? Or worse, did we even conduct a comprehensive assessment to begin with?\u201d<\/p>\n

He noted that these policy gaps are contributing to inflationary pressure.<\/p>\n

In July, inflation in The Gambia crept up from 7.2% to 7.5% a seemingly small increase, but one that significantly impacts households already grappling with rising living costs.<\/p>\n

Dr. Joof also scrutinized the country\u2019s monetary policy, noting that despite maintaining a policy rate of 17% for over a year, domestic credit continues to grow, further expanding the money supply.<\/p>\n

\u201cIs this truly monetary-driven inflation, or are we dealing with structural issues that interest rates alone cannot fix?\u201d he questioned.<\/p>\n

He pointed to a weak monetary transmission system, where short-term money market rates do not reflect policy shifts, while lending rates remain high, hurting both households and businesses.<\/p>\n

\u201cThe irony is striking. The government borrows cheaply, but the private sector pays exorbitantly,\u201d Dr. Joof said.<\/p>\n

This, he argued, creates a dangerous paradox. While the government attempts to protect industries and manage inflation, the restrictive financial environment deprives the economy of what it needs most \u2013 access to affordable capital.<\/p>\n

\u201cIn the end, the economy is being starved of oxygen. It deserves to breathe,\u201d he stressed on this.<\/p>\n

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

Africa-Press – Gambia. Dr. Foday Joof, a sustainable financial economist, has warned that protecting domestic industries without proper planning risks worsening inflation and harming consumers in The Gambia. In an exclusive interview with The Voice over the weekend, Dr. Joof cautioned that while shielding infant industries is important for national development, it must not come […]<\/p>\n","protected":false},"author":84,"featured_media":84829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[260],"class_list":["post-84830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-gambia"],"yoast_head":"\nProtection Without Planning Risks Inflation, Says Financial Expert - Gambia<\/title>\n<meta name=\"description\" content=\"Dr. Foday Joof, a sustainable financial economist, has warned that protecting domestic industries without proper plan ...\" \/>\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\/protection-without-planning-risks-inflation-says-financial-expert\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protection Without Planning Risks Inflation, Says Financial Expert\" \/>\n<meta property=\"og:description\" content=\"Dr. Foday Joof, a sustainable financial economist, has warned that protecting domestic industries without proper plan ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert\" \/>\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=\"2025-08-26T16:39:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-26T18:00:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/08\/sm_1756218559.384026.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\/protection-without-planning-risks-inflation-says-financial-expert#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Protection Without Planning Risks Inflation, Says Financial Expert\",\"datePublished\":\"2025-08-26T16:39:04+00:00\",\"dateModified\":\"2025-08-26T18:00:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert\"},\"wordCount\":426,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/08\/sm_1756218559.384026.jpg\",\"keywords\":[\"Gambia\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/protection-without-planning-risks-inflation-says-financial-expert\",\"name\":\"Protection Without Planning Risks Inflation, Says Financial Expert - 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