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Momodou
Denmark
11634 Posts |
 Posted - 18 Dec 2007 : 21:12:19
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NAMS REACT TO THE 2008 BUDGET
By Bubacarr K. Sowe
Although the Secretary of State for Finance and Economic Affairs, Musa Gibril Bala-Gaye, in his 2008 budget speech, on Friday, said the Gambian economy has a growth rate of 7 percent, the realization of the new trend by the ordinary person has been questioned by politicians.
Sidia Jatta, the National Assembly Member for Wuli West, said the fundamental question the government needs to answer is whether any nation can develop by depending mainly on taxation.
‘However good the economy of a country maybe, if it is dependent mainly on tax, I think there is still a problem,’ Horourable Jatta opined.
He added that the SoS did not say anything on the need to increase salaries, particularly the pensioners, some of whom are earning only D80 or D100 a month.
‘After having worked all their lives serving this country, they are earning only hundred dalasis a month and there is still no attempt to address that fundamental question for survival. There is a problem,’ the Wuli West NAM argued.
Mr. Jatta said it is a self-contradiction for the government to claim significant growth when the lives of the poor people are not improving.
He said: ‘Any economy that enjoys growth, is buoyant, and necessarily has to have improved living condition for the people but we don’t have that here. I am told that the price of flour is gone up to over D800 per bag. Consequently the price of bread has also gone up. And now you are telling me inflation is under control.’
Also reacting to the budget speech, Lamin Ceesay, the NAM for Sami constituency, told reporters that the government needs to reduce its expenditure on things such as allowance, which could have been used to eradicate poverty ‘Everybody knows that a tax based economy is not sustainable. We have to diversify our economy. Without that nothing can change.’
He argued that there should be a need to scale up the productive sector of the economy in order to have a healthy economy.
The majority leader and member for Serrekunda East, Fabakary Tombong Jatta, said about 89% of the government revenue is generated by either direct or indirect tax, and 11% is from non-tax.
‘But it is a known fact that the Gambia is a tax based economy. We need to plough back money into the productive sector, … as we anticipate our petroleum product for instance and the redirection of the Department of State for Agriculture to NADA. In the years to come, we will begin to generate revenue from other productive sectors than only from the domestic tax,’ Honourable Jatta said.
He said within a year there will be major changes in the public service. He also said the economic growth must reach at least a 9% growth rate before the ordinary person can benefit.
Source: Foroyaa Newspaper Burning Issues
Issue No. 148, 17 – 18 December 2007
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