Gambian economic growth rebounded to 5.5 percent in 2021 after a contraction of 0.2 percent in 2020. Monetary policy remains accommodative between 2020 and 2021 and high energy and transport prices increase inflation from 5.9 percent in 2020 to 6.9 percent in 2021. The current account deficit, which is financed mainly by FDI and capital transfers, widens from 3.3 percent of GDP in 2020 to 9.3 percent in 2021. Gross official reserves increased from US$352.1 million in 2020 to US$496.5 million in 2021 due to the allocation of SDR. (Download detailed Analysis Source : Report African Economic Outlook 2022 ; AfDB)
At the end of 2016, the banking sector of Gambia represented a total asset of $ 0.75 billion. Credit distributed to businesses represents $0.10 billion and, more broadly, credit to private sector totaling $0.12 billion.
