Abstract

The Gambia’s adjustment efforts since 1985/86 have contributed to a steady growth in real GDP and the stabilization, on average, in real per capita incomes, despite the stagnation in agricultural output. The increased availability of foreign exchange has facilitated greater imports of basic consumer and intermediate goods. The strong growth in activity in the industrial and services sectors stimulated the expansion of employment opportunities in the urban and formal sectors of the economy.

Economic Adjustment in a Small Open Economy
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