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Gambia’s Budget Deficit to Narrow Next Year, Observer Reports

Dec. 2 (Bloomberg) -- Gambia’s fiscal deficit is estimated to narrow to 1.47 percent of gross domestic product in 2011 on increased tax revenue and grants, the Observer reported, citing Finance Minister Abdou Kolley.

Total revenue and grants will increase to 5.65 billion dalasi ($199 million) next year from 5.5 billion dalasi in 2010, the Banjul-based newspaper said, citing comments by Kolley in parliament on Nov. 29. Spending will increase to 6.12 billion dalasi in 2011 from 5.77 billion dalasi. The deficit was 2.6 percent of GDP in September, it said.

The West African nation’s economy is estimated to expand 5.5 percent this year, the Observer said. The budget estimates will now be debated by parliament, it said.

To contact the reporter on this story: Consolatah Lucas in Banjul via Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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