Gambia’s economy continues to show signs of resilience as the Central Bank Governor, Buah Saidy, announced that the country’s international reserves reached $508.54 million by the end of May 2025.
According to him, this amount is enough to cover four to six months of projected imports, providing a critical cushion for the nation’s economy.
Speaking during a press briefing after the Monetary Policy Committee meeting, Governor Saidy shared encouraging news about the country’s financial performance in the first quarter of the year.
> “Government’s fiscal position has improved,” he noted. “Preliminary data shows a drop in the budget deficit—excluding grants—from D4.6 billion (2.6% of GDP) last year to D2.7 billion (1.6% of GDP) this year.”
He added that total revenue and grants rose by 14.5%, reaching D8.8 billion, while expenditure and net lending slightly increased to D10.1 billion.
Additionally, the money supply grew by 11.3% in March 2025, compared to 9.4% the previous year—an increase largely driven by higher net foreign assets within the banking system.
Saidy was optimistic about the country’s economic outlook, noting continued strong growth and a positive medium-term forecast. However, he also urged caution.
> “With global uncertainties still high, it’s essential for The Gambia to stay on course with reforms, maintain strong fiscal discipline, and build policy buffers. That’s how we’ll ensure long-term economic stability,” he emphasized.
