To promote socio-economic development and the welfare of all citizens of The Gambia with effective and efficient public finance management, through greater transparency, accountability, fiscal discipline and good governance.
- Design and offer directions and goals regarding coordination of implementation of public finance reform programs;
- Stimulate dialogue and exchange on issues related to public finances, inside and outside the public sector;
- Provide guidance for the work of the technical teams of various ministries and agencies on the basis of policies and measures adopted by the Government in relation to economic and financial matters;
- Review and, if applicable, endorse the technical dossiers of public finance reform prepared by the relevant public Ministries, Departments and Agencies (MDAs);
- Disseminate public finance reform programs to all stakeholders including civil society and the public.
- Actively monitor implementation of PFM reforms amongst stakeholders.
- The maintenance of aggregate fiscal discipline is the first objective of PFM system: it should ensure that aggregate levels of tax collection and public spending are consistent with targets for fiscal deficit, and do not generate unsustainable level of public borrowing.
- Secondly, a PFM system should ensure that operational efficiency is achieved, in the sense of achieving maximum value for money in the delivery of services.
- Finally, the PFM system should follow due process and should do so, by being transparent, with information publicly accessible, and by applying democratic checks and balance to ensure accountability.
There is currently a PFM Strategy 2016-2020 formulated to provide the necessary policies and guideline in monitoring the use of public resources.
- There have been various achievements most notably the introduction of the IFMIS accounting system for timely preparation and management of government accounts. The system has been piloted to almost all MDAs with plan to introduce it to government self-accounting projects.
- The government in its quest to ensure there is efficient and transparent use of public funds in the procurement of goods and services, has established the Directorate of Procurement which is under the Ministry of Finance and Economic Affairs to properly manage and handle the procuring of goods with the ultimate aim of ensuring value for money.
- The introduction of the VAT has also simplified the tax system, broaden the tax base and improve compliance among others.
- In order to ensure high level of accountability and transparency, the government has put in place an Internal Audit Directorate to ensure there is proper internal control within MDAs. Internal Auditors has been pilot to some MDAs with plans to pilot to the rest of all.
2021 Public Finance Management Annual Progress Report
The 2021 Public Financial Management (PFM) annual progress report, recounts the progress made, challenges and lessons learnt in implementing the PFM Strategy 2021-2025. Remarkable progress has been made in all the strategic pillars.
The IFMIS is now on a higher version (EPICOR 10) enhancing better functionality thus supported the role out to all Embassies, LGAs and sub-treasuries with plans to fully cover the self-accounting projects and sub-vented institutions in 2022. Once the IFMIS is fully extended, the production of financial statement becomes better harmonized, timely and credible. The implementation of the EFT has reduced cash handling and expedite payment processes. The electronic filling, receipting and payment is now introduced for effective and efficient revenue administration and management.2020 PFM Annual Progress
This Public Financial Management Annual Progress Report (PFM-APR) is produced culminating progress of implementation of reforms by the sister departments of MOFEA and other MDAs. It seeks to establish an objective evaluation of current PFM performance, highlight areas of absolute and relative strength and weaknesses.PFM Strategy 2021-2025
The Public Finance Management (PFM) Strategy 2021-2025, the fourth of its kind, is aimed at strengthening ongoing PFM reforms in the country. Its development reaffirms the Government’s firm commitment to adopt and institutionalise prudent public financial management practices to enhance service delivery to the Gambian people.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.Public Finance Management (PFM) Annual Progress Report
Assessing the Implementation of PFM Reforms for 2019
The Ministry of Finance and Economic Affairs (MOFEA) has the pleasure to present the Public Financial Management (PFM) Annual Progress Report for 2019,which recounts the progress Government has made in strengthening PFM reforms.
On a general note, implementing the PFM reform Strategy 2016-2020 has been very remarkable. Great success has been registered in attaining the strategic goals for the period under review. Thus, confirming Government’s firm commitment to adopting and institutionalizing prudent public financial management practices.Expenditure Brief January-October 2019
This brief presents an analysis of central government expenditure from January 2019 to October 2019. It also aims to inform Senior Management about the composition of total expenditure by different classification, highlighting the absorption capacity of different budget entities (BEs), and give an indication of expenditure trends compared to the same period a year earlier.Study tour on Treasury Single Account Report (TSA)
Study Tour seeks to foster an understanding of the experiences made with the implementation of TSA in Nigeria both at the Federal and State level. In addition, take stock of the requisite public financial management reforms required -the implementation, effectiveness and impact assessment - of the TSA and impediments realized in the implementation process.REPORT ON THE SURVEY OF FINANCIAL MANAGEMENT SYTEM OF LOCAL GOVERBNEBT AUTHORITIES (LGAS)
Local Council reforms fit within the broader context of public finance management reform
strategy 2016-2020. Overall reform progress in Local Government Authorities (LGA) has
been slow. The survey was conducted to assess the effectiveness of Financial Management
System (FMS) in LGAs aimed at harmonizing these on a common platform.