Monday, March 27

GRA outperforms target – Int’l finance institutions say  

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The information that specifically commended the “unprecedented performance of the GRA led by Commissioner Yankuba Darboe and his team”, also revealed its preliminary data that shows The Gambia “tax revenue target exceeded by over six percent” despite certain glitches.  

Responding to this correspondent, officials familiar with the entire report also acknowledged “some of the difficulties” encountered which include lower revenue collection on petroleum products as a result of “rising global oil prices and lower import volumes”, amongst others.   

Accordingly, the issue of “high freight costs”; the impact of the “war in Ukraine” as well as the effect of the “fourth wave of the Covid -19 pandemic” were highlighted as some of the factors that jeopardises economic recovery.  

It added that the “spill-over effects weaken tourism, disrupt agricultural inputs and increase the construction costs in the Gambia…”   

Nonetheless, despite the “challenging and demanding” circumstances, the GRA “perform beyond expectation…thus deserve adequate commendation”.   

Separately, there are also reports of good performance on “non-tax revenue…with traffic picking up on the Senegambia Bridge”.   

Distinctly, it also revealed foreign-financed infrastructure projects and that export also “improved more than expected…driven by a stronger recovery in tourism activity which was bolstered by remittances and SDR allocation…”  

Officials also confirmed to The Point a recent “diagnostic of governance and corruption vulnerabilities in The Gambia” conducted by the International Monetary Fund (IMF). However, relevant authorities are extolled for their “anti-corruption efforts…”  

Finally, the GRA was also applauded for rolling out the “Automated System for Customs Data, ASYCUDA World” as well as the “ongoing efforts to develop an E-procurement platform… bringing banking sector regulatory and supervisory framework closer to international standards”.