Directorate of Economic Policy and Research

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Mission Statement

The Directorate of Economic Policy and Research provides Government with analysis and recommends policies leading to the promotion of economic development and to the eventual reduction of poverty. The Directorate provides expert advice and assistance in the formulation of economic policy particularly in relation to macroeconomic conditions, forecasting, public finances, etc. As part of its work programme the Directorate is responsible for maintaining its short-term forecasting model and produce annual economic forecasts. The macroeconomic forecasts provide the basis for economically-sensitive fiscal projections which are submitted to the Directorate of Budget in preparation for the annual budgetary processes. The Directorate acts as the main interface between the Ministry for Finance and Economic Affairs and the country Development Partners (AfDB, WB, IMF, IsDB, ECOWAS, etc.).

Role and Responsibilities

In the field of policies and programs:

  • Collaborate in defining structural development policies and their respective impacts in public and private expense in infrastructures, namely public investment
  • Estimate budget revenue, domestic tax revenue and non-tax revenue, as well as write relevant texts for the Government Budget
  • Issue opinions on tax policy
  • Draft studies and issue opinions on tax structure and applicable fee levels
  • Issue opinions on matters related to expenditure, savings
  • Economic Modelling Department

    This Department is responsible for developing and applying techniques to simulate alternative scenarios of public spending on economic growth and the balance of payments over the medium-to-long term.

    Role and Responsibilities

    • Identify the impact of economic growth on key economic sectors of the economy
    • Develop analytical tools that can measure the many impacts of social and economic growth, including infrastructure and environmental impacts and suggest policy strategies to mitigate negative impacts
    • Develop long-term simulations of social and economic impacts resulting from changes in GDP growth and sectoral composition
    • In coordination with the Central Bank, the Gambia Bureau of Statistics, the Gambia Revenue Authority and the International Monetary Fund, develop a simplified Financial Programming model to assist the Ministry maintain macroeconomic policy consistency and make coherent growth projections, and
    • Develop the in-house capacity to develop or refine this model.
  • Economic Monitoring and Surveillance Department

    Role and Responsibilities

    • Periodically compile key economic indicators to provide timely information on the evolution of the economy during the calendar year, in between the production of annual National Accounts and other economic data by the Directorate, and
    • Draft annual reports on the operations of the department.
  • Medium-Term Fiscal Framework Department

    The Medium-Term Fiscal Framework Department develops the resource envelop for the annual budget and projections for 5-10 years into the future, based on estimates of domestic revenues, balance of payments trends and resources from Development Partners

    Role and Responsibilities

    • Coordinate with relevant bodies within the Ministry (Directorate of Budget and Accountant General in particular) on aggregate expenditure levels and sectoral allocations, especially allocations between recurrent and capital expenditures, and
    • Draft annual reports on the operations of the department.
  • Macroeconomic Impact Analysis Department

    The Department of Macro Economic Impact Analysis estimates the inflationary impacts and the breakdown between import requirements and demand on the domestic economy of major budget line items.

    Role and Responsibilities

    • Estimate the macroeconomic impact of trends in world prices of petroleum and other key country imports, and
    • Draft annual reports on the operations of the department.
  • Strategic Economic Analysis Department

    The Department of Strategic Economic Analysis is responsible for the development of growth and poverty reduction strategies.

    Role and Responsibilities

    • Manage the process for developing strategies towards economic growth and poverty reduction
    • Identify productive sectors that are likely to become the drivers of the non-oil economy, such as:
      • agriculture and tourism along the coast and in the mountains
      • various forms of manufacturing, and
      • a limited array of personal and business services.
    • Draft annual reports on the operations of the department and participate in the drafting of annual budgets.
  • Working Paper Series

    In this paper series, the Department of Economic and Policy Research at the Ministry of Finance, will presents policy research on the economy the Gambia, through collaborations with MDAs and other research partners. Each paper aims to provide evidence and insight on a macroeconomic or development issue and aims to raise and discuss policy questions relevant to same. The papers adopt an action oriented approach, written to be accessible to policy makers, development practitioners and academics alike. Feedback and comments are welcome at smenon@mofea.gov.gm.  Kindly see the Download tab below for the latest publications.
     

  • Downloads (17)
    FUEL PRICING STRUCTURE - SEPTEMBER 2022
    FUEL PRICING STRUCTURE - SEPTEMBER 2022
    Request for Publication of Supplementary Act A/Sa.6.12/18 Adopting Community Rules On The Elimination Of Double Taxation
    Request for Publication of Supplementary Act A/Sa.6.12/18 Adopting Community Rules On The Elimination Of Double Taxation
    Supplementary Act A/Sa.6.12/18 Adopting Community Rules On The Elimination Of Double Taxation
    Supplementary Act A/Sa.6.12/18 Adopting Community Rules On The Elimination Of Double Taxation
    Fuel Prices December 2021 - May 2022
    Fuel Prices December 2021 - May 2022
    Fuel Pump Prices (The Gambia) - 2010 - 2022
    Fuel Pump Prices (The Gambia) - 2010 - 2022
    Honourable Minister has giving out duty and tax waivers on fuel without due consultation with the relevant Authority
    Honourable Minister has giving out duty and tax waivers on fuel without due consultation with the relevant Authority
    2022 Budget Speech
    2022 Budget Speech
    The Gambia will receive US$85 million SDRs Allocation from the IMF
    The Gambia will receive US$85 million SDRs Allocation from the IMF
    2021 Budget Speech
    2021 Budget Speech

    2021 BUDGET SPEECH
    THE ROAD TO ECONOMIC RECOVERY
    DELIVERED ON FRIDAY 4TH DECEMBER 2020 AT THE NATIONAL ASSEMBLY
    BY THE HONOURABLE MINISTER OF FINANCE AND ECONOMIC AFFAIRS

    OIL PRICES FROM 2010 TO 2020
    OIL PRICES FROM 2010 TO 2020
    Itemized expenditure report of the D500 million COVID-19 Health Emergency Fund (1st May 2020)
    Itemized expenditure report of the D500 million COVID-19 Health Emergency Fund (1st May 2020)

    In line with our commitment to ensure transparency and accountability, the Ministry of Finance and Economic Affairs hereby publishes the itemized expenditure list from the D500 million COVID-19 Health Emergency Fund. As of 1st May 2020, D160 million has been released to the Ministry of Health, which is the spending authority on all COVID-19 related matters. The Ministry of Finance will continue to publish all future allocations and expenditures periodically.

    Budget Speech 2020
    Budget Speech 2020
    Tax exemptions for the year 2018
    Tax exemptions for the year 2018

    Attached are the Tax exemptions for the year 2018 for your Information.

    MEDIUM TERM ECONOMIC FISCAL FRAMEWORK (2019-2024)
    MEDIUM TERM ECONOMIC FISCAL FRAMEWORK (2019-2024)

    The Ministry of Finance and Economic Affairs (MoFEA) is required by The Public Finance Act 2014, Part II Section 4, to develop a Government macro-fiscal policy and medium-term economic and fiscal framework (MTEFF) for budget preparation for each year. The MTEFF helps to integrate the top-down revenue (resource) envelope with the bottom-up sector programs executed by various Ministries, Departments and Agencies (MDAs). The MTEFF outlines expenditures reflecting the Government’s key fiscal policy priorities over the medium term (2020–2024) to be strictly guided by budget realities, investment and public procurement options, debt strategies and borrowing plans of the government and the key reform priorities.

    Social Protection Financing In The Gambia ( working Paper 2)
    Social Protection Financing In The Gambia ( working Paper 2)
    Corporate Income Taxation in The Gambia 2018 (working Paper 1)
    Corporate Income Taxation in The Gambia 2018 (working Paper 1)
    Budget Speech 2019
    Budget Speech 2019

    2019 Budget Speech read by Hon. Minister of Finance and Economic Affairs, Mambury Njie on the 14th December, 2018.

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