BUDGET SPEECH 2002
PROGRAMME BASED BUDGETING FOR EFFICIENT RESOURCE ALLOCATION
AND USE WITH A POVERTY REDUCTION DIMENSION
IV. CO-OPERATION AND INTEGRATION
i. Bilateral Relations
- We take this opportunity to express our sincere appreciation to our
bilateral partners, specifically to the Federal Republic of Nigeria,
the Republic of China, the Libyan Arab Jamahiriya, Egypt, the state
of Kuwait and the European Union for their significant assistance. It
must be mentioned that Cuba has remained supportive to The Gambia, especially
in the health sector.
- The cordial ties of friendship and co-operation between The Gambia
and the Republic of China-Taiwan continue to flourish with technical
and financial support provided to various sectors of our economy. However,
our support for ROC-Taiwan is not driven by considerations of financial
gain but by our belief in the principle of self-determination and the
right to exist for every nation.
ii. Sub-Regional Co-operation
- The drive for a second West African Monetary Zone (WAMZ) is in progress
with the establishment of the West African Monetary Institution (WAMI),
which is now operational and is located in Ghana.
- The Gambia remains committed to sub-regional co-operation and development
and continues to be an active member in sub-regional organizations such
as ECOWAS and WAMA. We are also committed to promoting peace in the
sub-region and the world at large.
- As the world in which we live today is characterised by an ever-greater
urge to globalisation, our foreign policy is geared towards the maintenance
of international peace, friendship and cooperation to achieve the goals
of higher standards of living and prosperity for all Gambians.
iii. Relations with our Development
Mr. Speaker, Sir,
- The Gambia continues to nurture and consolidate its ties with the
international donor community. We have received both technical and financial
support from our Development partners and assistance has been channelled
either directly to the government or through NGOs. Our relationship
with the multilateral institutions such as the IMF, the World Bank Group,
the European Union, ADB and the Islamic Development Bank remains cordial.
A worthy mention here is the U.K’s Department for International Department
(DFID) for the special assistance given to our country in various forms.
- The Poverty Reduction and Growth Facility (PRGF) programme with the
IMF is in its final year. This three-year programme was originally supported
under the ESAF in 1998. The Gambia was commended for the encouraging
economic performance since the beginning of the programme. The IMF noted
that the progress made towards the settlement of the Alimenta dispute
has improved investor confidence. However the timely implementation
of the comprehensive governance program incorporated in the PRSP and
the structural reforms aimed at promoting private sector activities
- The successful ending of the PRGF this year will pave the way for
a new 3-year program with the Fund by early 2002. An IMF mission is
expected in Banjul immediately after the National Assembly election
to discuss the next PRGF. This august assembly is hereby reminded that
the benefit of having an IMF program is that it guarantees the intervention
of other bilateral and multilateral donors in terms of technical assistance.
It will also enable us to be abreast with macroeconomic developments.
- The ADB provided vital support to The Gambia during the year with
a D48 million loan agreement for the rural electrification project and
a D47 million loan for the Artisanal Fisheries Development Project was
signed with ADB, from the Nigeria Trust Fund window. The ADB Group is
also providing funds for the coastal protection project along with the
OPEC Fund and The Gambia Government, and implementation is expected
to start in early 2002.
- The EU continues to support government’s efforts in various sectors
of the economy especially education and agriculture. The Gambia will
receive substantial assistance in the next five years under the new
Cotonou partnership agreement between the EU and ACP countries and the
funds will be disbursed through the European Development Fund.
- The different agencies of the UN family also continued to provide
vital support to The Gambia. During the year, the FAO approved funding
for the establishment of a food inspection network to guarantee the
quality of locally produced and imported food items and to draft an
all embracing national food law. With plans underway for a new five-year
programme of co-operation between the Government and UNICEF as from
next year, it is envisaged that this will be a more comprehensive and
integrated approach to childcare and development.
- Recently our Government and the Kuwaiti Fund signed a US $10 million
loan agreement for the construction of the Farafenni-Laminkoto Road.
This project will be co-financed by the BADEA to the tune of US $8 million.
Funding for the Irrigation Rice Development project was also finalised
with the Kuwaiti Fund. The Kuwaiti Fund has financed various projects
in the country including the Banjul International Airport and the Kombo
Coastal Road Project.
- We would indeed like to thank the multilateral agencies and the wider
donor community for their significant contributions, both technical
and financial, to our socio-economic development.
II. THE WORLD ECONOMY
III. THE DOMESTIC ECONOMY
IV. CO-OPERATION AND INTEGRATION
V. OUTTURN OF THE 2001 BUDGET
VI. POVERTY ALLEVIATION AND THE SOCIAL SECTOR STRATEGY
VII. POVERTY REDUCTION THROUGH INCREASED PRODUCTIVITY
VIII. POVERTY REDUCTION THROUGH INFRASTRUCTURAL DEVELOPEMENT
IX. ENVIRONMENTAL ISSUES
X. GOVERNANCE ISSUES
XI. NON-GOVERNMENTAL ORGANISATIONS (NGOs)
XII. PUBLIC ENTERPRISES (PEs)
XIII. FISCAL PROJECTION FOR 2002