Gambia’s Finance Minister suggests new spending cuts

Gambia’s Finance Minister suggests new spending cuts

Gambia’s Finance Minister has suggested policy changes to President Adama Barrow to make further cuts to government spendings, Press Secretary Amie Bojang said.

The newly proposed cuts will reduce the fleets of vehicles used by the government. It will save an estimated $8.9 million (D400 million dalasis) from government expenditure.

“The ministry of finance is currently preparing policies on public sector restructuring, government vehicle policy, and business travel policies,” Bojang said.

“This is all in the view of drastically reducing the need for government to borrow, consequently leading to a decrease in interest rates. The reduction in interest rate is expected to encourage private sector lending.”

President Barrow this month signed an executive order restricting permanent secretaries and directors from traveling business class as criticism mounts towards travel expenses and per diems paid to officials.

Barrow has slashed at least $10.3 million dollars (D475 million dalasis) have been cut from the State House budget, which caters for the president’s executive office and the first family.

Barrow is pledging to cut more than a billion dalasis from the government’s spending and informed lawmakers of plans to sell off four presidential planes.

The cuts are among a flurry of actions on critical issues by the political newcomer to save the country’s shabby economy and instill financial discipline.

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