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Gambia’s economy to shrink 1.5% in 2020

GAMBIA’S economy will contract 1.5% in 2020 versus a previous estimate of 6.5% growth as a result of the impact of the coronavirus pandemic on tourism, the finance ministry has said.

“The new growth estimates are based on the shocks associated with the closure of airports, land borders and lack of tourism activities,” it said, projecting a rebound to growth of 5.9% in 2021.

The gross domestic product of mainland Africa’s smallest country grew 6% in 2019 despite a sharp drop in agricultural output and the bankruptcy of Thomas Cook, the travel operator that brought around 40% of annual visitors. – Thomson Reuters Foundation.



By The African Mirror