Here is the final part of SOS Jatta's 2002 budget speech.
Have a good day, Gassa.
XIII. FISCAL PROJECTION FOR 2002
i. Revenue
Mr Speaker, Sir,
Revenue forecast for the year 2002 has been influenced by the outturn in
2001 and by the anticipated economic performance of the coming year. The
total consolidated revenue is projected at D1.4 billion in 2002, which is
7.6% higher than the program target of D1.3 billion in 2001. The anticipated
revenue for 2002 is comprised of a tax revenue of slightly over D1 billion,
grants of D247 million, D98.3 million of government service charges and the
balance of D64.9 million is accounted for by repayments of loans, interest
dividends and property income plus pensions contributions.
ii. Expenditure
The expenditure forecast for the coming year amounts to D1.5 billion which
is further decomposed into D1.2 billion of recurrent expenditure and a
capital expenditure and net lending budget of D324 million. The targeted
level of deficit excluding grants and HIPC funds is 3.6% of GDP. The budget
incorporates HIPC poverty reducing spending anticipated to be D74.8 million
for the coming year. This funding is available to the Gambia with the
interim debt relief under the enhanced HIPC Initiative. Furthermore, the
2002 budget also reflects the key sectors’ priorities that emanate from the
PERs in the health, education and the agricultural sectors.
iii. Revenue Measures
Mr Speaker,
In government’s
drive to enhance revenue collection also, Government is considering the
establishment of a Revenue Authority following recommendations from an IMF
tax mission. As part of efforts to strengthen and further consolidate
government’s revenue base, we would review the following rates with effect
from 1st January 2002. This revision will help make these rates more
reflective of the prevailing economic situation in addition to securing
revenue.
They include:
The admission rate for Legal Practitioner has been raised from D787.50 to
D1, 500.
The admission rate for Notary Public is increased from D157.50 to D250.
The fees on Casinos are raised from D250, 000 to D350, 000 per premise.
Gaming and Amusement fees increased from D125, 000 to D250, 000 per premise.
Expatriate tax is reduced from D20, 000 to D10, 000.
Revenue tax on new vehicles from
1000 cc to 2000cc is reduced from 20% to 15%
2000cc and above is also reduced from 35% to 25%
Transport Allowances for civil servants are increased from D150 to D250 per
month.
Finally there is a 6% across the board salary increase to help retain
skilled staff following a wage freeze for senior personnel in 2001.
7. The rest of the measures covering Mortgage, Releases, Agreement, Bills,
Deeds, Assignment, Bonds, Memorandum and Insurance Policy can be obtained
from the table attached in the appendix to this budget speech.
XIV. CONCLUSION
Mr. Speaker,
The objective of our economic management strategy has not changed. It
remains poverty reduction. We will however, be adjusting the approach to
better address our objective given the prevailing socio-economic
environment. This explains the planned switch to Programmed Based Budgeting
(PBB). In the last budget speech, I highlighted the opportunities offered by
developments in the domestic economy, the sub region and at the global
front. What I did not say is that they are opportunities only if we take
advantage of them, if we do not; they could turnout to be threats. Be
reminded that we are in competition whether we know this or not and we must
remain constant in our endeavour to improve our lot.
Achieving socio-economic development is not a feat that is accomplished over
night. It is a long process of continuous planning, implementation and
adjustments. The most important ingredient of this process apart from the
environment in its totality, which in our case is quite favourable, is the
human resource input. And it does not just suffice to have a very highly
qualified and experienced manpower; such a calibre of staff must be
committed to the spirit and purpose of our national drive. Instead of
capacity building, the new buzzword should be capacity enhancement,
utilization and retention.
We should strive to institute in our people the confidence that they have a
stake and share of the gains of a developed Gambia. It is also a truism that
by the same token, we also have an equally undiminished stake and share of
the consequences and blame for failing to take our responsibility in the
pursuit of the challenges to self-determination. Establishing that
self-centred element is paramount considering the fact that development is
powered by the private sector engine but oiled by the public sector.
However, as we pursue our individual goals, we should always be mindful of
the broader national goal.
I am therefore appealing once again to all Gambians to be committed to our
development efforts, to proudly lay claim to them for indeed, we are the
owners. Let us do what we are sanctioned to do by our various occupations,
as it is the only true legacy by which posterity will judge us and for which
we will be remembered.
I thank you.
Mr. Speaker, I beg to move.
XIV. CONCLUSION
Mr. Speaker,
The objective of our economic management strategy has not changed. It
remains poverty reduction. We will however, be adjusting the approach to
better address our objective given the prevailing socio-economic
environment. This explains the planned switch to Programmed Based Budgeting
(PBB). In the last budget speech, I highlighted the opportunities offered by
developments in the domestic economy, the sub region and at the global
front. What I did not say is that they are opportunities only if we take
advantage of them, if we do not; they could turnout to be threats. Be
reminded that we are in competition whether we know this or not and we must
remain constant in our endeavour to improve our lot.
Achieving socio-economic development is not a feat that is accomplished over
night. It is a long process of continuous planning, implementation and
adjustments. The most important ingredient of this process apart from the
environment in its totality, which in our case is quite favourable, is the
human resource input. And it does not just suffice to have a very highly
qualified and experienced manpower; such a calibre of staff must be
committed to the spirit and purpose of our national drive. Instead of
capacity building, the new buzzword should be capacity enhancement,
utilization and retention.
We should strive to institute in our people the confidence that they have a
stake and share of the gains of a developed Gambia. It is also a truism that
by the same token, we also have an equally undiminished stake and share of
the consequences and blame for failing to take our responsibility in the
pursuit of the challenges to self-determination. Establishing that
self-centred element is paramount considering the fact that development is
powered by the private sector engine but oiled by the public sector.
However, as we pursue our individual goals, we should always be mindful of
the broader national goal.
I am therefore appealing once again to all Gambians to be committed to our
development efforts, to proudly lay claim to them for indeed, we are the
owners. Let us do what we are sanctioned to do by our various occupations,
as it is the only true legacy by which posterity will judge us and for which
we will be remembered.
I thank you.
Mr. Speaker, I beg to move.
XIV. CONCLUSION
Mr. Speaker,
The objective of our economic management strategy has not changed. It
remains poverty reduction. We will however, be adjusting the approach to
better address our objective given the prevailing socio-economic
environment. This explains the planned switch to Programmed Based Budgeting
(PBB). In the last budget speech, I highlighted the opportunities offered by
developments in the domestic economy, the sub region and at the global
front. What I did not say is that they are opportunities only if we take
advantage of them, if we do not; they could turnout to be threats. Be
reminded that we are in competition whether we know this or not and we must
remain constant in our endeavour to improve our lot.
Achieving socio-economic development is not a feat that is accomplished over
night. It is a long process of continuous planning, implementation and
adjustments. The most important ingredient of this process apart from the
environment in its totality, which in our case is quite favourable, is the
human resource input. And it does not just suffice to have a very highly
qualified and experienced manpower; such a calibre of staff must be
committed to the spirit and purpose of our national drive. Instead of
capacity building, the new buzzword should be capacity enhancement,
utilization and retention.
We should strive to institute in our people the confidence that they have a
stake and share of the gains of a developed Gambia. It is also a truism that
by the same token, we also have an equally undiminished stake and share of
the consequences and blame for failing to take our responsibility in the
pursuit of the challenges to self-determination. Establishing that
self-centred element is paramount considering the fact that development is
powered by the private sector engine but oiled by the public sector.
However, as we pursue our individual goals, we should always be mindful of
the broader national goal.
I am therefore appealing once again to all Gambians to be committed to our
development efforts, to proudly lay claim to them for indeed, we are the
owners. Let us do what we are sanctioned to do by our various occupations,
as it is the only true legacy by which posterity will judge us and for which
we will be remembered.
I thank you.
Mr. Speaker, I beg to move.
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp.
<<//\\>>//\\<<//\\>>//\\<<//\\>>//\\<<//\\>>//\\<<//\\>>
To view archives of postings, go to the Gambia-L Web interface
at: http://maelstrom.stjohns.edu/archives/gambia-l.html
To contact the List Management, please send an e-mail to:
[log in to unmask]
<<//\\>>//\\<<//\\>>//\\<<//\\>>//\\<<//\\>>//\\<<//\\>>
|
