He made the disclosure yesterday at the Assembly’s First Ordinary Session of the year March 2023.
The Appropriations Bill 2023 was passed during the Fourth Ordinary Session of the National Assembly in the 2022 Legislative Year.
“Honourable Members, by way of an update to this august Assembly, the Appropriations Bill 2023 which was passed during the Fourth Ordinary Session of the National Assembly in the 2022 Legislative Year at number 1 of 23, has been assented to by the President of the Republic of The Gambia on 22nd of December 2022,” he said.
According to the Approved 2023 Budget Appropriation, The Gambia’s total Government Local Fund Expenditure comes to D22 billion for 2023, however, when loans, grants and government local funds are tallied, The Gambia plans to spend D38.8 billion this year.
Meanwhile, the government plans to collect total revenues and grants of D33.2 billion in 2023. Most importantly, the Ministry Of Finance and Economic Affairs of The Gambia – MOFEA – estimates Expenditure and Net Lending to exceed D37.1 billion in 2023, leaving taxpayers to fund a Budget Deficit of over D3.9 billion in 2023.