Gambian Economy to Grow Faster Than Forecast in 2009, IMF Says

Written by Victoria Batchelor of Bloomberg.com | 09 November 2009

The Gambian economy will expand this year at a faster pace than previously forecast, aided by strong growth in agriculture, the International Monetary Fund said in a report dated Nov. 5.

Gross domestic product will increase about 4.5 percent to 5 percent in 2009, up from an earlier estimate of about 3.5 percent, according to a statement issued after IMF officials visited the Africa nation from Oct. 23 to Nov. 5. Real GDP growth is projected “to rise slightly” in 2010, based on a partial recovery in tourism and remittances, the IMF also said in the report e-mailed to Bloomberg News.