By Ramatoulie Jawo
Honorable Seedy Keita, the Minister of Finance and Economic Affairs on Monday told lawmakers that the Total Revenue and Grants for 2023 is projected to reach D31.48 billion, which represents a growth of 18.42 percent over fiscal year 2022 figures of D26.59 billion.
“The increment is mainly attributed to an estimated increase in tax revenue, budget support Grants, and Non-Tax Revenue. Project Grants are projected to reach D11.83 billion compared to D9.66 billion in 2022, whereas Non-Tax Revenue is projected at D2.97 billion compared to D2.20 billion in 2022,” he disclosed.
He added that total Tax Revenue is also projected to marginally increase by 1.5 percent to D13.92 billion, compared to D13.66 billion in 2022.
“The 2023 budget will factor Budget Support to the tune of D2.77 billion from our developing partners, compared to D1.07 billion in 2022. The bulk of the budget support is expected to come from the World Bank (US$20 million), the European Union (US$13 million), AFD (US$2million), and the African Development Bank (US$7 million),” he said.
The honorable Minister made these remarks at the national Assembly while presenting the Draft 2023 Estimates of Revenue and Expenditures of the Gambia.