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HomeNewsGambia has ''transit economy'', says opposition leader

Gambia has ”transit economy”, says opposition leader

Halifa Sallah, leader of the opposition Peoples’ Democratic Organization for Independence and Socialism (PDOIS), has argued that Gambia has a “transit economy” with “Monies appearing to be leaving the country as fast as they come in rather than nestling in one sector to generate economic growth and employment,” PANA reports from here Wednesday.

This was contained in a statement emanating from a press conference Sallah held at his ‘People’s Centre’ in Serre Kunda, Gambia’s second capital.

“We have identified that over US$ 1.6 billion are traded in the currency markets annually without any visible impact on the four fundamental pillars of the economy — public sector investment, private sector investment, Cooperative sector investment and Informal sector investment,” he said.

According to him, Gambia’s public enterprises used to be profitable and had contributed greatly to the country’s national budget.

“Now dividends from public enterprises are recorded as zero”, he said, adding that a PDOIS-led government would ensure that the annual turnover of public enterprises is scientifically calculated and made known to the public as a matter of duty.

“That performance contracts would be signed with all public sector operators to ensure that dividends are scientifically calculated and increased on annual basis to build up the account of sovereign National Wealth.”

On party politics, Sallah said his recent trip to Dakar has shown that “Gambia is deemed to be a country without an internal opposition that could serve as an alternative.”

“I am holding this press conference today to put an end to such a distortion of the political realities of the country,” he added.

He said his party was created in 1986 and was therefore older than the ruling party which came into being in 1994.

“PDOIS has proved, by all standards, that it is a credible alternative. We have given concrete facts on the deficits in liberty and prosperity,” he added

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