By: Kemo Kanyi
PDOIS’s Halifa Sallah has said that The Gambia continues to run its budget in deficit because of the misappropriation of public funds by the government.
Mr. Sallah asserted that it’s the obligation of the central government to deliver schools, hospitals and other development projects to the population since citizens are obliged to pay taxes.
“The taxes they [government] collect are not well utilized, which is why the budget of the country runs in deficit because the government would be forced to borrow due to their own wasteful spending,’’ he added.
Halifa re-emphasized that The Gambia must focus on producing goods for export to address the debt stress that the country found itself bogged into to be able to import goods, explaining that if the productive base of the economy is not expanded, government must continue to rely on loans to import goods. He mentioned that The Gambia continues to rely on importation of everything the country needs since the time of Sir Dawda Jawara, adding that this is the underlying factor for Gambia’s high indebtedness.
“When Jawara was leaving, the debt rate stood at D2 billion. Jammeh escalated it to D46 billion and the current dispensation ballooned it to over D100 billion and they are still at the helm of affairs,’’ he explained at a political gathering in Basse Dampha Kunda.
“It is important for you to be informed that our Central Bank reserves for last year stood at D66 billion. This financial capacity can import goods into the country for only four months, meaning the government would be forced to borrow for importation of goods for the remaining eight months,’’ he added.
He urged for the enfranchisement of Gambians in Diaspora, citing the important role they play in stabilising the nation’s economy.