About Ministry of Finance and Economic Affairs (MOFEA)
The Ministry of Finance is headed by the Honorable Minister of Finance and Economic Affairs who is deputized by two Permanent Secretaries.
Deriving its mandate from the constitution of The Gambia, the Ministry of Finance is responsible for setting the Government’s overall economic policy objectives and the legal and institutional framework through which such objectives are meant to be achieved. The Ministry is specifically responsible for the following:
- Development of the Government’s macro fiscal policy and the medium-term expenditure framework for budget preparation;
- Management of the national budget preparation process;
- Coordination and management of external grants and loans;
- Carrying out budget execution and internal auditing, cash management and in-year financial planning, management of government banking arrangements, management of government accounting and reporting, and management of public debt;
- Promotion of fiscal transparency and effective management in respect of revenues, expenditures, and assets and liabilities of the Government;
- Responsibility for all tax and non tax revenue policy related issues, including all policy issues related to direct and indirect taxes, foreign trade taxes, excise duties and fees and licenses. Exercising control over the implementation of the Government Budget, including any in-year adjustments to the budget;
- Publishing, by appropriate means, the progress of budget execution;
- Inspection of the financial operations and property management of budget agencies; and
- Preparation and submission of annual statements of Government accounts to the Auditor-General, and have them published for the interest of the general public.
The Ministry comprises of the following Directorates, each headed by a Director. These are: National Treasury, Budget Management, Aid Coordination, Loans and Debt Management, Economic Management and Planning, Information, Communication and Technology, Internal Audit, Public Finance Management and Development Planning.
The Ministry also has semi autonomous agencies, including the Gambia Revenue Authority (GRA), which is responsible for collection of tax and some non tax revenues as required by law; the Gambia Bureau of Statistics (GBoS)and the Gambia Public Procurement Authority (GPPA).