At the commemoration of the 69th anniversary of the UN, Kebba Touray, Gambia’s Minister of Finance & Economic Affairs, revealed that overall poverty level in the country had declined steadily from 48.4 percent in 2010 to 36 percent.
This is a notable improvement in economic development for a nation given its antecedents of having about 60 percent of its population below the poverty line and 40 percent below the food poverty line. The Gambia’s reform program which started in 1986 has, by introducing a layer of macroeconomic stability and competitiveness, ushered in an era of steady economic growth of around 4 percent per annum.
Other socio-economic indicators in Gambia continue to improve. According to Mr Touray, the population of pupils starting Grade 1 reached 95.3% in 2011 and the country will likely achieve the MDG target of 100 percent by 2015. “This development also parallels our achievements in the area of health, where child mortality indicators have now surpassed MDG targets according to the latest Demographic Health Survey (2013),” he added.
In line with global trends that place emphasis on the economic and political empowerment of women, the country passed an inclusive National Women’s Act into law in 2012 that addresses issues of violence against women while also boosting political participation and leadership opportunities for the female folk.
The country also contributes troops in peacekeeping efforts around the world. “Our peacekeepers are separating warring parties and supporting peace consolidation efforts in conflict zones. We take great pride in upholding the doctrine of peace not just an objective inherited in the UN Charter, but also as a core value. On terrorism, The Gambia stands firm and uncompromising and joins the rest of the world in condemning the inhumane acts of terrorism perpetrated in the name of religion,” Minister Touray asserted.
The Republic of Gambia is the smallest country on mainland Africa and has shared a similar historical root with other West African countries with respect to slave trade. Its economy is driven majorly by agriculture and services. Agriculture in the country is subsistent, and, according to the BBC, built heavily around one crop, peanuts. Hence, its economy is subject to fluctuations in production and world prices of the crop, a key reason the country is heavily dependent on foreign aid to fill gaps in its balance of payments.
Gambia can further improve upon its current economic positioning by leveraging more of its resources while introducing stricter fiscal discipline to carefully manage and wisely invest its earnings.
By Emmanuel Iruobe
