The finance minister, Seedy Keita, has said that the total GLF Expenditure and Net-Lending amounted to GMD 7.87 billion compared to an annual budget of GMD 36.19 billion.
He said this on Monday, 8th June 2026, at the National Assembly while delivering his oral statement on the monitoring and budget execution during the first quarter of the 2026 fiscal year.
The brief explains how The Gambia Government Local Fund (as approved in the 2026 Appropriation Act) has been raised, managed, and executed during the first quarter of 2026.
The brief also highlights the key aspects of the 2026 national budget such as revenues and expenditures, with respect to the effective monitoring of annual variance analysis of fiscal performance against budget execution.
Key Highlights of the First Quarter of the 2026 Fiscal Year Budget Performance
Total Revenue Performance (no grant was received):
Minister Keita reported that for the 2026 fiscal year, revenue performance indicates an improved first-quarter result, reaching an actual outturn of GMD 7.68 billion compared to the same period last year, which recorded total revenue of GMD 7.54 billion.
He said this represents an increase of 1.8 percent year-on-year, representing 21 percent of the annual 2026 budget amounting to GMD 35.87 billion.
He attributed the quarterly increase mainly to a 12 percent year-on-year rise in tax revenue.
Total GLF Expenditure & Net-Lending:
He said it amounted to GMD 7.87 billion compared to an annual budget of GMD 36.19 billion – representing an execution rate of 22 percent by the end of March 2026.
He indicated that the main drivers for this expenditure performance are Personnel Emoluments (24 percent execution rate), Subsidies & Transfers (28 percent execution rate), and Debt Interest (20 percent execution rate).
He said, “Therefore, the budget balance recorded a gross deficit of GMD 195.84 million as of the first quarter of 2026 against GMD 587.24 million during the same period in 2025 (67 percent reduction).”
Consolidated Revenue Realized
The Minister then shifted his statement to details of Consolidated Revenue Realized.
He informed lawmakers that “domestic revenue in the first quarter of 2026 amounted to GMD 7.68 billion compared to GMD 7.54 billion in the same period a year ago, representing a marginal increase of 2 percent.”
According to him, the increment was driven by an increase in tax revenue.
He stated that “when compared to the target of GMD 32.20 billion in the approved budget, domestic revenue in the first quarter of 2026 recorded a performance rate of 24 percent against the target.”
He further said that direct taxes recorded GMD 2.65 billion in the first quarter of 2026 compared to GMD 2.20 billion in the first quarter of 2025, reflecting substantial growth of 20 percent.
He disclosed that the unprecedented increase in direct tax was mainly driven by improvements in corporate tax and personal tax, which increased by 20 percent and 10 percent, respectively.
He stated that indirect taxes stood at GMD 4.54 billion in the first quarter of 2026 compared to GMD 4.19 billion in the same quarter last year.
He linked the said growth mainly to improvements in domestic value-added tax, import duty (oil and non-oil), and import VAT (oil and non-oil), which increased by 17 percent, 2 percent, and 10 percent, respectively.
