Sanusi:

You are right! The Budget Speech available online at www.statehouse.gm is
NOT the latest one. That was for 2002!!! There is a new Budget Speech for
2003.

Ebrima



>From: Sanusi Owens <[log in to unmask]>
>Reply-To: The Gambia and related-issues mailing list
><[log in to unmask]>
>To: [log in to unmask]
>Subject: Re: The state of the Nation speech or a  budget speech?-Mr JAITEH
>Date: Wed, 18 Dec 2002 08:52:19 -0800
>
>Malanding
>
>You must be reading the 2002 Budget. I did fall into
>the trap of thinking that the Speech budget available
>at www.statehouse.gm was the latest version. Its not!
>Gassa tells us that this will be posted to the site
>soon.
>
>
>Thank you
>--- Malanding Jaiteh <[log in to unmask]> wrote:
> > Our thanks to Koto Sidi and Pa Modou Gassama for
> > their efforts.
> >
> > I must admit I am yet to read the entire document
> > but I am totally confused.
> > Is this speech a state of the nation address or 2002
> > budget? It may be
> > tradition but the finance minister presenting the
> > years budget in this
> > format but I think it is seriously flawed.
> >
> > If the speech is about the state of the nation then
> > I suggest that the Head
> > of State to take up the challenge to clearly the
> > Gambian people in another
> > forum, what his Government has achieved in the  past
> > year and plane to do
> > for the next year.
> >
> > Likewise the budget report as the name suggests
> > should be a clear and
> > concise statement on the governments revenue and
> > expenditure for the ending
> > year and the planned expenditure and revenue for the
> > next year. This will
> > help avoid the need to plough through all these
> > un-necessary material. For
> > instance the section on the Government's plan for
> > the postal Service for
> > tells us little about how the sector faired, in
> > terms of expenditure and
> > revenue in 2002 or how much we are budgeting for the
> > 2003 year.
> >
> > Overall It looks like a poorly organized
> > unprofessional waffle and number
> > gymnastics! You wonder what year the SOS is talking
> > about? How can we talk
> > about estimates for the year ending 2001 in a
> > 2002/2003 budget? What year is
> > the SOS referring to when he said "Output from
> > Livestock, Forestry and
> > Fishing are also estimated to grow by 3, 4 and 18
> > percentage points
> > respectively. Agriculture is therefore forecasted to
> > grow by 8.6%." Isn't it
> > only a few weeks ago that the government issued a
> > crop failure and famine
> > warning? If so what does this thing on agricultural
> > forecast really mean?
> >
> > About number gymnastics, the following sums it all:
> >
> > <beginning of quote>
> >
> > " Fiscal Developments
> >
> > Mr Speaker,
> >
> > The performance of revenues and expenditure for the
> > current fiscal year has
> > been mixed. While there has been revenue shortfalls,
> > especially in the first
> > quarter, as a consequence of lower customs
> > collections and low payments from
> > the public enterprises, expenditure overruns
> > associated with the additional
> > payments to Alimenta exerted pressure on the outcome
> > of 2001 fiscal
> > aggregates. The fiscal authorities stepped in with
> > some measures to improve
> > revenue collections and tightened spending to
> > contain the deficit to the
> > targeted level.
> >
> >
> > Revenue for the year 2001, according to programmed
> > figures, have been
> > revised downwards to D1.31 billion which represents
> > a 17% growth from the
> > actual outturn of D1.1 billion in 2000. However, the
> > total revenue collected
> > between January to October 2001 totals D874.7
> > million, and this represents
> > 77% of expected revenues for the current year. This
> > revenue outcome recorded
> > up to end-October comprised of D714.9 million of tax
> > revenue, D109.8 million
> > non-tax revenue and a grant element of D50.1
> > million.
> >
> >
> > The total projected expenditure amounted to D1.5
> > billion of which about D1.1
> > billion (70%) has already been spent from January to
> > October of this year.
> > Out of this amount, about 26% was used to pay wages
> > and salaries, 23% went
> > to interest payments and the rest is accounted for
> > by capital expenditure.
> > The overall fiscal deficit excluding grants is
> > expected to be contained at
> > around 5.9% of GDP. However, this relatively high
> > level of deficit has taken
> > into cognisance of the on-lent amount of D77 million
> > to NAWEC for the
> > acquisition of a 6.5MW generator. If this is
> > excluded, the deficit will
> > narrow down to about 4.6% of GDP. " <end of quote>
> >
> > I am not an economist or an expert in finances but I
> > think something is
> > seriously not right here.
> >
> > Malanding Jaiteh
> >
> >
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