Finance minister warns Gambia may incur an estimated loss of D1 billion dalasi due to COVID-19 pandemic

EYEAFRICA TV: Banjul, The Gambia: The Minister of Finance and Economic Affairs has warned of economic downturn estimated close to one billion dalasi as a result of the COVID-19 pandemic.

Mamburey Njie made this disclosure in address to the National Assembly on Tuesday where he compared the loss in revenue to a one-month collection by the Gambia Revenue Authority in the year 2020.

Finance minister explained the situation on constrain in global supplies due to factories shutdown in china, Europe and the middle east.

The loss of revenue, he said is likely to widen budget deficit from 1.5 percentage point of GDP of 2020 to 2. 1 percent thanks to the coronavirus.

Meanwhile, President Adama Barrow is expected to address the nation today on the country’s preparedness on prevention and management of cases in the wake of the global disaster. Although, the Gambia is yet to count any case of the virus on its shores, neighboring Senegal has recorded over twenty cases.

This exerts pressure on the government on the need to become more proactive on the aspect of prevention.

Former Director of Budget at the Ministry of Finance and Economic Affairs, Momodou Sabally told the Good Morning Africa programme on Eye Africa that he expected the president to be the first to address the nation before any of his ministers.

Gambians have been on the social media demanding closure of border points and ban on public gathering, in consideration of the porous nature of the country’s entry points.

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