24 September 2007
The Gambian economy is booming, the West African country's central bank has revealed.
Gambia's economy grew an estimated 7.1 percent in 2006, compared with 6.9 percent in 2005, according to central bank figures.
The growth was driven by banking, tourism and telecoms and the booming construction industry.
In a statement, the bank said that "the strengthening of the Dalasi reflected improved macro economic fundamentals including robust output, growth, increased foreign exchange inflows for foreign direct investment, private remittances, re-exports, travel receipts, cashew exports as well as confidence in the Gambian economy and healthy resources."
Aggregate purchases and sales rose to 24.8 billion dalasis in the first seven months ending July 2007, the bank said.
Its statement continued: "The robust economic expansion is expected to be sustained in the near term supported by improving financial conditions.
"Inflation is forecast to decelerate to less than 5 per cent by end December 2007."
