Ministry of Finance and Economic Affairs
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- macroeconomic policy framework management
- improving the budget system and public procurement
- modernisation of the tax system
- improving the public accounting system
- developing the audit and inspection system
The Government of The Gambia launched a comprehensive reform plan to modernise the country’s Public Finance Management (PFM) system, promoting the efficient use of resources for the public good. This reform strategy was formulated mainly as a result of the previous Public Expenditure Financial Assessments (PEFA), Country Procurement Review Assessment (CPRA) and various consultation sessions with key PFM stakeholders.
Numerous measures and activities have been implemented to strengthen economic and public financial management while establishing good governance systems, including:
The most noteworthy PFM reform to date has been the successful implementation of the Integrated Financial Management Information System (IFMIS) which has been rolled out to all MDAs since 2010. Instrumental towards attaining our strategic PFM reform objectives, the IFMIS has played a key role towards the clearing of the Government’s financial statements backlog dating from 1996-2011.
The Medium Term Expenditure Framework (MTEF) has been introduced on a pilot basis to replace the existing incremental line item budgeting currently in place. The MTEF is being introduced to ascertain that public resources are strategically allocated to finance government priority areas as articulated on the Programme for Accelerated Growth and Employment (PAGE), as well as ensuring operational efficiency for effective and efficient utilisation of public resources.
Public Procurement reforms are at an advanced stage and focus on the amendment of the Gambia Public Procurement Authority (GPPA) Act to incorporate the separation of policy and regulatory (ex-ante review and post review) functions of the GPPA. An Independent Complaints Review Board has been established to strengthen the definition of sanctions and fines within the Act.
Tax Reforms with emphasis on the introduction of a Value Added Tax (VAT) system was introduced in January 2013 to replace the Sales Tax regime. The VAT modules have been incorporated within the GAMTAXNET software, and now the process of linking cash registers of registered VAT businesses with the software is being reviewed.
