Gambia central bank governor Buah Saidy

The Gambia Central Bank governor has outlined his plan to tranform the country from low-income to middle-income nation.

Buah Saidy told Gambiana exclusively that the bank is working on a development project to improve the fortunes of the nation. 

“We have developed what we call an economic transformation agenda for The Gambia, which will be a blueprint to transform the economy from a low-income country to a high middle-income country,” he said.

“We want every Gambian to share in prosperity [that will be generated] and that the productivity of Gambians will increase, that is what is keeping us here. 

“So, like I said, we are very busy trying to ensure that we dig ourselves out of poverty,” he said.

Mr Saidy didn’t go into details about the bank’s blueprint to transform the country. 

Meanwhile, speaking on the recent government salary increase of publc servants, Mr Saidy it was vital to boost workers spending powers amid the economic challenges.

“If people have more money, they spend more. So, that means the ability to spend more.”

The Gambia is among the poorest nations in Africa with low economic growth and a rising debt crisis.

The country predominantly relies on the agricultural sector. Tourism is another important pillar of the country’s economy. 

However the vast majority of Gambians earned their living from the land and sea.

Reporting by Adama Makasuba

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