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 > > > > >~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ > > > > To unsubscribe/subscribe or 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] > > > > >~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ > > >__________________________________________________ >Do you Yahoo!? >Yahoo! Mail Plus - Powerful. Affordable. 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