The 2012 Budget
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Monday, December 05, 2011
Editorial

It is a constitutional provision that the minister  of Finance and Economic
Affairs tables before the National Assembly the financial statement of the
government for approval before the start of any new fiscal year. Exactly
one year ago, the minister stood before the very same august Assemby to
present the budget for the 2011 Fiscal Year. This was done when the world
economy was reeling from the global economic crisis. However, despite all
these, The Gambia maintained a sustained economic growth and our
international reserve position remains comfortably stable.  It is not
surprising that the 2012 Budget also speaks of the sustained economic
growth of the country through macro-economic stability and control of
inflation.

However, since the estimates are before deputies for scrutiny, we do not
intend to put the cart before the horse. Though, it is imperative to break
down the technicalities of the budget for the common person so that we can
all see together the relentless efforts of the government to ensure
sustainable development of the country’s economic growth and investment in
service sectors.

As the Finance minister himself told deputies while presenting the 2012
budget estimates, “despite the uncertainties in the global economic
environment, the Gambia economy remains strong, GDP is estimated to grow by
5.5% in 2011 underpinned by healthy performance of the agricultural and
telecommunication sectors.

Inflation continues to be subdued with end-September 2011 inflation
standing at 4.1% compared to 6.2% a year earlier. The decline in inflation
is explained mainly by food items, accounting for 55% of the weight of the
basket of goods and services and inflation is expected to remain within the
target of 6% during the year 2011”.

This fiscal performance as indicated by the economic minister suggests that
The Gambia's cruising economic voyage is presenting ground-breaking
results. The manifestations at end of 2011 suggest a promising 2012 in
terms of economic growth and human development prospects.

The 2012 financial estimates indeed reveal a positive outlook in the
country's ever relentless strive towards achieving the much talked about
Millennium Development Goals (MDGs) as well as The Gambia government's own
development proclamation, as enshrined in the Vision 20/20 blueprint, both
of which envisage making poverty history.

Frankly speaking, the fiscal estimates just presented to our deputies is a
reassuring vindication of the prudent economic and monetary policies being
spearheaded by the government of the day, under the leadership of President
Jammeh, all in the face of distractive, negative forces aimed at slowing
down progress towards such an achievement.

Behind the words and numbers of that budget were the policies and the
decisions that reflect the directions government had set for itself and for
the country, as well as the commitment it had made to reduce poverty. The
government’s endeavour however calls for consolidation of present gains.
Our goal should be to use the fruits of our present success to sow the
seeds of future achievements.

As the 2012 budget is still under the scrutiny of the National Assembly and
we do not want to make judgment; we will puase for now until the deputies
finish their job. All we can do for now is to call on the populace to
change attitude and take advantage of the enabling environment created by
the government to promote the socio-economic development of the country.

We also want to seize this opportunity to commend the minister of Finance
and Economic Affairs and the entire government for their hard work and
sacrifices for the country.  Considering the trend of our economic growth
and infrastructural development, we are optimistic of much greater
prospects for the development of the country particularly the women and
youths.
Author: *Daily Observer*

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GOD BLESS THE GAMBIA.
LET US JOIN HANDS AND SUPPORT SHEIKH PROFESSOR DR. ALH YAHYA JAMMEH (NASIRU
DEEN) TO BUILD OUR COUNTRY. *


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