By: Fatou Krubally
The Government of The Gambia yesterday presented the audited accounts for the years 2021, 2022, and 2023, clearing a longstanding backlog of national accounts. The presentation was made before the National Assembly by the Minister of Finance and Economic Affairs, Hon. Seedy Keita.
According to Hon. Keita, the financial statements were prepared in line with the International Public Sector Accounting Standards (IPSAS) and the CAS basis. They provide a comprehensive account of government revenue, expenditure, and operations, reflecting a commitment to accountability, prudent management, and transparency in public finance.
The 2021 accounts showed total government revenue of D16.4 billion, with tax collections contributing 75% of domestic revenue. Expenditure for the year reached D21.7 billion, largely absorbed by government operations, transfers to other entities, and capital projects. The shortfall was managed primarily through domestic borrowing. In 2022, revenue totaled D16.5 billion, while expenditure amounted to D21.6 billion, with similar financing mechanisms used to cover the budget gap.
The 2023 financial year marked a remarkable turnaround, with revenue hitting D23.3 billion, surpassing the approved budget by 18%. Tax and non-tax collections exceeded expectations, grants performed strongly, and total expenditure of D22.1 billion was broadly in line with projections. The year concluded with a fiscal surplus, underscoring the government’s strengthened revenue mobilization and disciplined expenditure management.
Hon. Keita emphasized that the clearance of these three years of accounts reflects a historic improvement in financial reporting, as national accounts had previously faced delays of up to three years. He acknowledged the contributions of the Ministry of Finance staff, particularly the Accountant General’s Office and the Office of the Auditor General, in achieving timely and accurate reporting.
“The presentation of these audited accounts demonstrates our unwavering commitment to fiscal discipline, accountability, and service to the Gambian people,” the Minister said. He added that in-year reporting and rigorous financial management would continue to be a priority for the government.
