The Gambia fiscal and debt service trends

In the first half of 2026, The Gambia reported spending D15.42 billion, which accounted for 42 percent of its annual budget. Finance and Economic Affairs Minister Seedy Keita noted that government expenditure and net lending increased by 6 percent compared to the previous year. Debt interest payments reached D3.10 billion by mid-year, representing an 18 percent increase from the same period in 2025.

Projections for 2027 indicate a significant escalation in debt servicing obligations, expected to reach D16.17 billion. This would constitute a 20.2 percent increase from the D13.46 billion allocated for 2026. These obligations are projected to become the government’s largest single expenditure, consuming approximately 43 percent of projected domestic revenue.

The anticipated surge is driven by rising interest costs on domestic debt, particularly Treasury bills and government bonds, as well as a 19 percent increase in external debt interest. To manage these pressures, the government intends to follow a concessional borrowing plan and implement strict expenditure controls.