Gambia gets €30M grant to finance deficit budget

Gambia gets €30M grant to finance deficit budget

Mainland Africa’s smallest nation received €30 million euros in budgetary support from the European Union Commission following reports of a huge deficit in its budget.

The EU first came to The Gambia’s aid in January at the end of a political crisis that nearly plunged the country into civil war.

Gambia’s economy suffered a shock as a result of former President Yahya Jammeh’s refusal to cede power. Tourism declined and its agricultural output was poor.

The country was already facing isolation and fiscal challenges after Jammeh soured relations with the Western world and interfered with the country’s monetary policies.

“The program will contribute to the sustainable and inclusive growth and to the improvement of political and economic governance in The Gambia,” said the country’s Minister of Finance Amadou Sanneh.

The administration of President Adama Barrow is heavily relying on international donors to keep the Gambia’s economy afloat following allegations of theft and corruption against Jammeh and his associates.

Expectations for Barrow’s government are high and some people are already feeling increasing impatient and the new administration is working to redress the economy and guarantee financial stabilization, despite the difficult political and economic legacy of the former president.

The European Union feels the need to avoid any slip back for The Gambia’s economy to curb the illegal migration of the West African nation’s youth to Europe.

Gambia has the third largest arrivals of illegal migrants by sea to Europe until the change of government in January. At least 347 Gambian migrants have been voluntarily repatriated.

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