The Gambia will record 5.6% GDP growth over the 2024-2026 period owing to increased activity across all economic sectors, as well as the government’s commitment to maintaining macro-fiscal stability, according to the World Bank.
In 2023, The Gambia’s GDP grew by 5.3%, continuing a streak of economic expansion seen since 2017.
“The improved agricultural production and increased public consumption as well as private and public investment drove this positive growth,” stated Feyi Boroffice, World Bank Resident Representative. “However, challenges such as higher inflation, monetary tightening and economic slowdown in advanced economies disrupted the tertiary sectors and slowed private consumption, all of which tempered the country’s overall performance.”
Addressing structural constraints, optimizing local content development and ensuring gender inclusivity is crucial to advance economic productivity going forward, notes the World Bank.
