III Growth, Saving, and Investment
Author: Mr. Eric Verreydt, Mr. Michael T. Hadjimichael, and Mr. Thomas Rumbaugh
Language:
English
Keywords:
OP; adjustment effort; re-export trade; public enterprise sector; enterprise; Gambian economy; private sector saving; investment balance; savings performance; investment project; government saving; Agricultural commodities; Agricultural sector; Private savings; Services sector; Public investment spending

Abstract

The growth potential of the Gambian economy has improved markedly since 1985/86 with the removal of distortions in the structure of relative prices, the strengthening in economic incentives, including the introduction of a market-determined exchange rate, and the rehabilitation of economic infrastructure. These policies have encouraged a diversification of the production base primarily toward services (such as regional trade and tourism) and to a lesser extent manufacturing, while broadening at the same time the base of agricultural output. Notwithstanding the progress made in diversifying economic activity, the output base of the economy remains fragile; it continues to be sensitive to changes in the weather, as well as external and regional developments.

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Cover The Gambia
The Gambia
Economic Adjustment in a Small Open Economy
Author: Mr. Eric Verreydt, Mr. Michael T. Hadjimichael, and Mr. Thomas Rumbaugh
ISBN:
9781557752307
ISSN:
0251-6365
Publication Date:
15 Sep 1992
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781557752307.084
Pages:
48

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