On Wednesday, the National Assembly received the Gambian government’s audited financial results for 2024, which showed D27.9 billion in expenses and D24.6 billion in total income.
On behalf of Finance Minister Seedy Keita, Professor Pierre Gomez, Minister of Higher Education, Research, Science, and Technology, presented the report. Professor Gomez emphasized in his presentation that government revenues increased significantly in 2024, with grants marginally exceeding estimates and tax collections exceeding targets.
“Financial year 2024 saw government revenues strengthen significantly, reaching D24.6 billion, or 95 percent of the approved budget,” Professor Gomez said. “Tax revenue totaled D19.1 billion, exceeding the target by 10 percent and accounting for nearly 89 percent of domestic revenue. Non-tax revenue stood at D2.4 billion, representing 43.2 percent of its target
and 11.1 percent of domestic revenue. Grants amounted to D3.2 billion, slightly above the projected figure at 101.7 percent of the target.”
He pointed out that the D27.9 billion in total spending was essentially in accordance with the authorized budget. D12.7 billion was spent on government operations, D4.3 billion was transferred to other government agencies, D2.8 billion was spent on capital projects, D4.6 billion was spent on interest payments, D392.2 million was spent on social benefits, and D3.2 billion was spent on other expenses.
Professor Gomez underlined that the government’s dedication to financial openness and responsiveness to the needs of its citizens is demonstrated by the prompt presentation of audited accounts.
“By presenting the audited accounts for the 2024 financial year, we fulfill a long-standing goal of achieving in-year reporting, ensuring that our nation’s financial management remains current and accountable to the Gambian people,” he said.
He called on the National Assembly’s members to carefully review the Auditor General’s conclusions and use them to improve public financial management and accountability.
The Finance and Public Accounts Committee has now been tasked with reviewing the 2024 audited financial statements. Additionally, the report must be made publicly available and submitted to Parliament by the Auditor General.
