Hon. Samba Jallow, minority leader National Assembly and member of ECOWAS parliament, has told the regional parliament that the Gambian economy continues to consolidate gains from improved performance in agriculture, construction and tourism sectors in 2017/ 2018 season.
Jallow, member of Niamina Dankunku made statement in his report on the Gambia before first ordinary session of ECOWAS Parliament on 10th May, 2019 in Abuja, Nigeria.
He added that gains generated a growth of 6.7 per cent in 2018 compared to 4.7 per cent in 2017.
The agricultural sector experienced growth from -8.1 per cent in 2017 to 4.7 per cent in 2018.
He noted that this due to significant increases in crop production, livestock and forestry from -15.3 per cent to 6 per cent, -5.5 per cent to 5 per cent, and -10.2 per cent to 5.7 per cent respectively.
He further said with a commitment to reforms, the economy is expected to grow in 2019.
“One of the most important reforms is SOE reforms aimed at setting all SOEs on sustainable financing paths, thus weaning them off continuous government bailouts which in recent years, have resulted to increasing government debt and expanding fiscal deficit,” he pointed out.
“Reforms in tax and revenue administration are also required to place the Gambia on a competitive platform of doing business through simplified tax codes, reduced bureaucracy and red tapes,” Jallow told ECOWAS parliamentarians.
He added: “ To ease the cost of doing business, the Government recently, set up a task force of ease doing business that seeks to resolve challenges associated to investing in The Gambia.”