The Minister of Finance and Economic Affairs (MoFEA) Mr. Mambury Njie, has, on Monday, 18 October 2021, told the lawmakers that project grants is envisaged to reach D9.7billion in 2022, compared to D8.8 billion in 2021, whilst total tax revenue is projected to reach D13.9 billion in 2022, which is a 14 percent increase compared to D12.2 billion in 2021.
In laying the estimates of revenues, recurrent and development expenditures for the fiscal year 2022, during the Fourth Ordinary Session [Budget Session] of the National Assembly in the 2021 legislative year at the Assembly complex in Banjul, he said inter alia: “Non-tax revenue in 2022 is projected to increase by 139 percent which is D3.67 billion compared to D1.53 billion in 2021. Total expenditure and net-lending is projected to increase from D31.75 billion in 2021 to D32.15 billion in 2022.”
This, as indicated by the Finance Minister, represents a growth of 1 percent, the bulk of which is related to capital expenditure. He added that personnel emolument expenditures are projected to also increase from D4.8 billion in 2021 to D5.1 billion in 2022.
“The increase in Personnel Emolument is a result of planned recruitment of additional teachers by the Ministry of Basic and Secondary Education [MoBSE], payment of allowances to election officers, increased allowances for nurses and midwives under the health ministry, as well as factoring yearly increments based on promotions”, disclosed Minister Njie.
He pointed out that other current (non-interest) expenditure would be substantially curtailed by 41 percent, from D19.1 billion in 2021 to D11.3 billion in 2022, which reduction mainly emanates from a reorientation and shift in priorities towards capital development.
“The 2021 budget will factor budget support amounting to D2.6 billion from our development partners, compared to D3.2 billion in 2021. The budget support is expected from the International Monetary Fund (IMF), European Union (EU), the African Development Bank (ADB) and World Bank (WB),” the minister told legislators.
