Gambia President Adama Barrow on June 19 announced that The Gambia’s international reserves stood at approximately $515 million, covering over 4.6 months of imports.
The projected economic growth for 2025 is 5.9%, with inflation expected to decrease to 9.6%.
The country faces a fiscal deficit of D6.7 billion and a debt-to-GDP ratio of 71.8%.
In response to rising living costs, the government increased civil servants’ salaries and expanded social programs.
Remittances from the diaspora reached $775.6 million in 2024; however, a 10% gap exists between the official and parallel exchange rates.
Barrow emphasized the need for public finance reforms and signed a performance contract with NAWEC to improve fiscal discipline.
He acknowledged the ongoing challenges, particularly inflation, and emphasized the importance of reforms and effective debt management for achieving stability.
