XIII. CONCLUSION

Mr. Speaker,

Let me now bring together the various strands of the policy objectives and strategies I have outlined in my Speech.

The primary long-term policy objectives of the government are poverty eradication and balanced growth: The one will support the other. Government main pre-occupation will therefore focus on the immediate needs of the poor and the most vulnerable groups in our society. By investing in education, health facilities and in productive sectors such as agriculture we are setting the stage for reducing poverty and for creating the right environment for sustained growth and development.

The increased focus on poverty alleviation also means that we will continue a fiscal policy that will be disciplined and sound. Very often, lax fiscal policy has an immediate effect on price levels in the country. It is the poor that are the most affected by rising prices and the effects of inflationary pressures. Lax fiscal policy therefore defeats our primary objectives of poverty alleviation and balanced growth.

There are two strands to this strategy of disciplined fiscal policy that I have sought to address. First, we will continue to exercise the utmost discipline in our public spending. We will ensure that spending is within the expenditure allocations approved by this Assembly, and that the expenditure disciplines I instituted in the last quarter of the year are strictly adhered to, and closely monitored. The budget will continue to provide adequate resources for essential expenditure, such as wages and salaries, pensions, public debt charges, expenditure which is needed for poverty alleviation, or expenditure that is essential for the security and safety of our citizens. Sectors will have to prioritize on the discretionary elements of their expenditure, so that they are kept within budget allocations, and have the maximum impact on poverty alleviation and growth.

Second, and equally important, is that I would like to usher in a new culture towards resource mobilization. The new focus on budgetary strategy should be on maximizing our revenue potential, both in the short and medium term, without in any way diminishing our efforts at expenditure control. Policy proposals to increase our revenue effort have been laid before this august Assembly along with a new architecture for an improved revenue administration. Their mere passage is not enough. There has to be a concerted effort to broaden our revenue base, and to enforce our laws and regulations to ensure that all resources that are legitimately due to government are received in full, and accounted for on time. Earlier in my speech I have made mention of the various revenue reforms that are contemplated. I have sought to lay the basis for a tax system that is fair, simple, efficient, and easy to administer. This will take time to be fully realized. I therefore call upon all citizens of this country to make their due and proper contribution to the State, be they taxes, fees or charges. Government on its part will ensure absolute financial transparency in the allocation of resources derived from the improved tax administration. Accordingly, I will instruct the revenue departments and collection agencies in government to vigorously enforce all the laws and regulations necessary for proper revenue collection, and use the full force of the law to penalize evasion.

The importance of fiscal discipline and effort is not confined to poverty alleviation, equity, and reducing inflationary pressures within the country. It must also be viewed in a broader setting. By providing the necessary infrastructure, by improving the quality of our public services, and by not being too intrusive, budgetary operations also set a proper environment for the private sector to be the engine of growth. Together with monetary stability, a strong financial structure, an open economy, a transparent and modern legal system, and good governance, fiscal discipline also provides the means of ensuring investor confidence, both local and foreign in The Gambia. At this juncture, I wish to re-echo His Excellency The President's advice for Gambians to take advantage of the opportunities being provided by participating actively in all spheres of the economy. The youths are particularly called upon to engage themselves in the informal sector and other productive areas of the economy, such as tradesmanship. A man's greatest honour is to be engaged in gainful employment. It is therefore prudent that the young and able bodies of the country play an active role in shaping their future lives and in nation building.

Given the volatile environment abroad and the competing incentives of other economies, this is no easy task. But with a renewed discipline, and with God's help, this will be our contribution to make The Gambia a better place to live.

Mr. Speaker, Sir,

I beg to move

-end.

I. INTRODUCTION
II. THE WORLD ECONOMY
III. THE DOMESTIC ECONOMY
IV. CO-OPERATION AND INTEGRATION
V. POVERTY ALLEVIATION AND THE SOCIAL SECTOR STRATEGY
VI. POVERTY REDUCTION THROUGH INCREASED PRODUCTIVITY
VII. POVERTY REDUCTION THROUGH INFRASTRUCTURAL DEVELOPEMENT
VIII. ENVIRONMENTAL ISSUES
IX. GOVERNANCE ISSUES
X. NON-GOVERNMENTAL ORGANISATIONS (NGOs)
XI. PUBLIC ENTERPRISES (PEs)
XII. FISCAL PROJECTION FOR 2002
XIII. CONCLUSION