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With Drought Looming, Gambia’s Economic Forecast Falls To 5.3 Percent

With Drought Looming, Gambia’s Economic Forecast Falls To 5.3 Percent

There is a drought looming in Gambia but at the same time the country’s economic growth is projected at 5.3 percent in 2014. This is lower than the earlier forecast of between 6 – 6.5 percent, the Monetary Policy Committee (MPC) of the Central Bank of The Gambia said.

“In his quarterly press briefing, Gambia’s Bank governor, Amadou Colley, said the dimmed economic outlook is mainly because of the uncertainties surrounding agricultural production due to the prospects of inadequate rainfall in the country,” reports Star Africa.

Gambia’s second largest sector, agriculture, employs nearly 70 percent of the work force and accounts for 33 percent of the country’s Gross Domestic Product.

And the coming drought, this could greatly affect Gambia’s GDP.